purchase
This query is : Resolved
23 June 2011
which item can v treat it as a purchase or sale and to submit vat returns/cst returns. suppose i purchased stationery. this is treat as expenditure. tell me exact which transaction is to be taken into sale/purchase.
25 June 2011
Hi
you need to consider the purchase which is used directly in trading or manfacturing of the product.
stationery is 100% expenses you cant claim the ITC.
if you purchase the capital goods for manf
then you can claim the ITC>
you need to consider the purchase which is used directly in trading or manfacturing of the product.
stationery is 100% expenses you cant claim the ITC.
if you purchase the capital goods for manf
then you can claim the ITC>
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Booth for sales promotion
- Regarding ITR filing with more value than showing in AIS/TIS
- LIABILITY ADJUSTMENT
- IT returns for fresh job holders
- Housing Society-ITR5
- NRI INSURANCE ADVISOR
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
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
