input credit
This query is : Resolved
21 September 2010
in put credit is avilable to the capital goods.plz clarify the doubt
Ex machinery purchased 10,92,000 vat @ 4%
Machinery A/c 10,30,0000
Vat 42000
to Raj 10,92,000
sale of goods 10,92,000 vat @ 4%
ravi A/c 10,92,000
to sales 10,30,000
to out put vat 42,000
in this way i can do or not
Ex machinery purchased 10,92,000 vat @ 4%
Machinery A/c 10,30,0000
Vat 42000
to Raj 10,92,000
sale of goods 10,92,000 vat @ 4%
ravi A/c 10,92,000
to sales 10,30,000
to out put vat 42,000
in this way i can do or not
21 September 2010
It is based on state vat. some state the input VAT on capital goods can be claimed 50% in the current year and 50% in the next year. so please refer 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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Form 10BD Filling
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
