Cenvat
This query is : Resolved
nirav dankhra
(Querist)
22 January 2016
diffrence between capital goods and fixed asset
23 January 2016
Capital goods are defined under section 2 of the CENVAT credit Rules 2004. All fixed assets are NOT capital goods for the purpose of excise. Similarly all capital goods may not be fixed assets.
Whether an expense qualifies as a fixed asset depends on the accounting principles.
Similarly whether an expense qualifies as a capital good for excise will be determined from Rule 2
Whether an expense qualifies as a fixed asset depends on the accounting principles.
Similarly whether an expense qualifies as a capital good for excise will be determined from Rule 2
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