Fixed asset purchase vat input

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Sreejith. M (Querist)

11 August 2015 We r a newly regd firm and purchased computer, Printer, fax, , photocopier from Y company. for all these item we received single invoice including vat. How to rnter the same in Tally by itemwise or by singly. we r not taking vat input. Kindly help. if you can give example it will be more helpful. Thanks

CA Jitendra Daraji

CA Jitendra Daraji (Expert)

11 August 2015 Dear in ITAT, DELHI BENCH `B’: NEW DELHI In The case of: ACIT v Container Corporation of India Ltd. Appeal No. : ITA Nos. 2851 & 3680/Del/2007 Decided on: February 27, 2009 The accessories and peripherals of computers provide input processing, storage and various output devices. The output devices such as printer, scanner etc. are computer peripherals and form essential parts of PC. These output devices cannot work in isolation and also working on computer system without an output device such as printer would be futile. In view of the above, the claim of depreciation at 60% on printer, scanner and other computer peripherals is completely justified. But for Fax and photocopier they are covered under plan and machinery as it will be depreciated at 15%

CA Jitendra Daraji

CA Jitendra Daraji (Expert)

11 August 2015 So here you can make all 60% singly in one account named Computer. fax and Photocopier are different so they also recorded separately @ 15%. It will not make any difference have single bill or separate bill .

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