Friends....
A company which is registered under VAT act has bought one computer as fixed asset for Rs. 20,000. VAT @ 4% of Rs. 800. Whether input credit is available?
Which amount should be capitalized?
note: Purchase is made in Tamilnadu State.
Menu
How to treat vat on fixed asset
Replies (4)
Hi,
Computer is not related with manufacturing process. Hence, input credit is not eligiable. You have to capitalise Rs.20800/- (Cost price + all expenses)
Regards,
D.Perumal
if you purchase Capital Goods Which were not use in manufacturing of Taxable Commodity Input Credit Will Not Available so Directly took away same under fixed assets at cost 20,800
Sir,
i required MVAT 210 challan for paying the tax of MVAT- 210, please send me the same to my ID: ghanavathi @ gmail.com, regards.
Agree with D .PERUMAL
Recent Topic
- Reabte 87A new regeim for FY 2025-26 (AY2026-27)
- OTP ENTERED BUT NOT PROCESS THE RETURN
- Form 16 Includes Salary Recovered Towards Notice P
- Altera INTC
- Itr schema a.y 26-27 v/s form no.16
- Advance Tax for senior citizen with small speculat
- Zero income tax on Capital Gain on sale of house p
- Rental income calculation for 12months
- PF Withdrawal before completing 5 years
- Discrepancy in "Processed By Source" and
Related Topics
CAclubindia
