24 December 2013
We have manufacturing unit in punjab & purchased Boiler from Delhi @ 120000.00 agst. C form with 2% cst.
My Q. is what will be accounting entry for the same as i wants to show it in purchase ( for getting C form from sales tax department) & in fixed assets also ( to charged Depreciation )
24 December 2013
Dear Sir can i pass entry- purchase capital goods for showing purhase & than can i transfer purchase capital goods a/c to boiler a/c for depreciation ?
24 December 2013
If you are talking in terms of presentation as per VAT you can do that exercise. Like debit the asset to purchase a/c as capital purchase and then transfer to Fixed Asset A/c.
CAclubindia
