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capital goods

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(Querist)
17 April 2009 whether ball bearing is a capital or input goods ? i m doing audit of Atul Auto limited
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
17 April 2009 It will be treated as capital goods, if, the ball bearing, is, spare parts, components, accessories of a capital goods.

You need to ascertain, whether the equipment/machinery, of which, the ball bearing is a spare parts etc, is a capital goods as per the definition under CCR.

Else, it is input.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
19 April 2009 Agree with experts , Stock in Trade are not capital goods
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
19 April 2009 Agree with experts , Stock in Trade are not capital goods
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