Capital goods
This query is : Resolved
10 July 2013
Purchase of machinery tools and components treated as capital goods and CENVAT has been taken to extent of 50% for the current year under excise and the same has been treated as raw materials in accounting books.whether the above practice is correct?
Arun Kumar Singh
(Expert)
10 July 2013
If the goods is capital goods then you will book the value in the accounting books in the head of capital goods.
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