Capitalising
This query is : Resolved
18 November 2009
If Asset is purchased by a manufaturing Unit and is used in the Office and not for production, then can VAT Credit be availed on that?
Eg. X, a manufacturing unit, purchased Furniture and is put to use in the office. Then VAT paid to be capitalised or input credit can be availed?
Pl. Reply
Thanks in advance:)
Eg. X, a manufacturing unit, purchased Furniture and is put to use in the office. Then VAT paid to be capitalised or input credit can be availed?
Pl. Reply
Thanks in advance:)
18 November 2009
no
18 November 2009
its use in office then no input credit is available.
18 November 2009
thank you Sirs.
pl. answer me this also
if an asset is put to use on 6th May 2009. Then shall we take 6th May 2009 into consideration for calculating depreciation under Companies Act or from 7th May do we calculate depreciation.
Thanks in advance:)
pl. answer me this also
if an asset is put to use on 6th May 2009. Then shall we take 6th May 2009 into consideration for calculating depreciation under Companies Act or from 7th May do we calculate depreciation.
Thanks in advance:)
19 November 2009
Yes, we can charge depreciation on that asset.
Regards
Regards
19 November 2009
yes Depreciation is allowed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Darpan registration
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
