Capital or revenue expense
This query is : Resolved
21 September 2016
Whether purchase of hand trolley a capital expenditure or revenue for a manufacturing concern.?
21 September 2016
It is a capital expenditure as the asset has life more than one year.
22 September 2016
thank you.
Also i want to know whether the vat paid on purchase of this trolley will be eligible for input credit or not as it supports the movement of goods in production process.
Also i want to know whether the vat paid on purchase of this trolley will be eligible for input credit or not as it supports the movement of goods in production process.
22 September 2016
Cenvat credit on excise duty paid can be claimed I am not sure about VAT.
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