For tax on fixed assets

happypatel (asst. accountant) (29 Points)

14 November 2011  

Hi,

i have to enred a entry of purchase of fixed assets entry.

Example i've purchase computer on this bill supplier have added a input vat @ 12.55 and additional tax @ 2.5%.

computer is fixed assets for me .now i'm confusing which vat class i have to take for it.

Dr. Computer               Rs.20000

Dr. inputvat                  Rs.2500

   Cr.  Xyz                                                Rs.22500

Is this right or not?

which vat class i have to take.