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(Querist)
23 June 2011 which item can v treat it as a purchase or sale and to submit vat returns/cst returns. suppose i purchased stationery. this is treat as expenditure. tell me exact which transaction is to be taken into sale/purchase.
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B R Ramesh

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B R Ramesh (Expert)
25 June 2011 Hi
you need to consider the purchase which is used directly in trading or manfacturing of the product.

stationery is 100% expenses you cant claim the ITC.

if you purchase the capital goods for manf
then you can claim the ITC>

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