Input claim on capital goods
This query is : Resolved
14 June 2016
A manufacturing company purchase a capital goods, can the company claim input on capital goods in VAT? If it is possible then which method would be the best option for claiming input? If company claim input, can the company also claim depreciation as per IT Act & Companies act? What is the procedure for calculate VAT?
18 June 2016
Mr.Giri
Input tax on capital goods may be claimed should the asset be put to use in manufacture or any other process of taxable goods. As to depreciation the asset will be capitalized at net of tax value and depreciation may be claimed on the same.
Input tax on capital goods may be claimed should the asset be put to use in manufacture or any other process of taxable goods. As to depreciation the asset will be capitalized at net of tax value and depreciation may be claimed on the same.
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
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- FTS Taxable under 115A
- Experts need help
- Management System (IMS)
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
