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capital expenditure

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 April 2011 I have purchased a machinery for my plant including VAT, Do I took it as asset at full amount and not take vat as input tax credit ?
or take as asset on basic value and vat in ITC ?

thank you all
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CA Navin Jain

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CA Navin Jain (Expert)
05 April 2011 IF YOU ARE ELIGIBLE FOR CLAIM THE VAT INPUT THAN ITS MORE BENEFICIAL TO COMPANY
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 April 2011 is it possible ?
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CA Navin Jain

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CA Navin Jain (Expert)
05 April 2011 yes its possible
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 April 2011 how to take entry of it ?

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