Capitalising
This query is : Resolved
18 November 2009
If Asset is purchased by a manufaturing Unit and is used in the Office and not for production, then can VAT Credit be availed on that?
Eg. X, a manufacturing unit, purchased Furniture and is put to use in the office. Then VAT paid to be capitalised or input credit can be availed?
Pl. Reply
Thanks in advance:)
Eg. X, a manufacturing unit, purchased Furniture and is put to use in the office. Then VAT paid to be capitalised or input credit can be availed?
Pl. Reply
Thanks in advance:)
18 November 2009
no
18 November 2009
its use in office then no input credit is available.
18 November 2009
thank you Sirs.
pl. answer me this also
if an asset is put to use on 6th May 2009. Then shall we take 6th May 2009 into consideration for calculating depreciation under Companies Act or from 7th May do we calculate depreciation.
Thanks in advance:)
pl. answer me this also
if an asset is put to use on 6th May 2009. Then shall we take 6th May 2009 into consideration for calculating depreciation under Companies Act or from 7th May do we calculate depreciation.
Thanks in advance:)
19 November 2009
Yes, we can charge depreciation on that asset.
Regards
Regards
19 November 2009
yes Depreciation is allowed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- EXPORT COMMERCIAL INVOICE HSN CODE
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Cash balance limit and property purchases limit
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
