Purchase of furniture
This query is : Resolved
01 June 2020
hi good afternoon,
company made some purchase of furniture(under fixed asset) for the office. white filing the vat return it is being reflecting under capital goods. appreciate, if you can let me know if it is correct
company made some purchase of furniture(under fixed asset) for the office. white filing the vat return it is being reflecting under capital goods. appreciate, if you can let me know if it is correct
02 June 2020
Thanks for the reply. when i am filing vat return in tally. it is reflecting as follows
Sales (Outwards) :
Local Supplies
Domestic Taxable Supplies@ 5%
Total
Purchases (Inwards) :
Local Purchases
Domestic Taxable Purchases@ 5% -------> showing local purchase
Capital Goods
Purchases@ 5% (2,261.90)
Domestic Taxable Purchases - Capital Goods@ 5%.......>> in this row it is showing furniture purchase transaction.
Total
Payable
Payment Details
Tax payment (included)
Tax payments (not included/uncertain)
Tax paid at customs
VAT Paid
Balance VAT Payable
Hope it is correct. This account belong to company in dubai.
REgards,
Shalini
Sales (Outwards) :
Local Supplies
Domestic Taxable Supplies@ 5%
Total
Purchases (Inwards) :
Local Purchases
Domestic Taxable Purchases@ 5% -------> showing local purchase
Capital Goods
Purchases@ 5% (2,261.90)
Domestic Taxable Purchases - Capital Goods@ 5%.......>> in this row it is showing furniture purchase transaction.
Total
Payable
Payment Details
Tax payment (included)
Tax payments (not included/uncertain)
Tax paid at customs
VAT Paid
Balance VAT Payable
Hope it is correct. This account belong to company in dubai.
REgards,
Shalini
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