capital goods
This query is : Resolved
10 August 2010
can somebody tell me what is the definition of capital goods or plant & machinery in vat on which input can be claimed in manufacturing concern.
VINOD ARORA
(Expert)
10 August 2010
There is no definition undder VAT as such. YOu have to go by capitalisation of expenditure (of eligible assets, like P&M) as applicable as per Indian GAAP.
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