capital goods

This query is : Resolved 

17 April 2009 whether ball bearing is a capital or input goods ? i m doing audit of Atul Auto limited

17 April 2009 It will be treated as capital goods, if, the ball bearing, is, spare parts, components, accessories of a capital goods.

You need to ascertain, whether the equipment/machinery, of which, the ball bearing is a spare parts etc, is a capital goods as per the definition under CCR.

Else, it is input.

19 April 2009 Agree with experts , Stock in Trade are not capital goods


19 April 2009 Agree with experts , Stock in Trade are not capital goods



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