Vat

Shikha Bajaj (CA ) (433 Points)

09 February 2010  

Pls help

If some firm is not registered under Dvat or Sales Tax. & it purchases a computer & receives a tax invoice mentioning Vat amt. Rs. 2500. Will this amt be capitalised or charged to P & L A/c?

If we charge it to P &L A/c, then what r its implication for tax audit report (Form 3 CD)

Will we do the same treatment if v receive the retail invoice?

Thanks in Advance

Shikha