capital goods
This query is : Resolved
reena boricha
(Querist)
17 April 2009
whether ball bearing is a capital or input goods ? i m doing audit of Atul Auto limited
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.
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.
Manmohan ACA, CS
(Expert)
19 April 2009
Agree with experts , Stock in Trade are not capital goods
19 April 2009
Agree with experts , Stock in Trade are not capital goods
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