Regarding consumable
This query is : Resolved
31 March 2015
WE HAVE PURCHASED SOME PAINT AND USED THAT PAINT IN BODY SHOP IN CAR REPAIRING . SO HOW WE WILL DO THIER PURCHASE ENTRY AS CONSUMABLE AND AFTER THAT HOW TO ADJUST IN BOOKS OF A/C AT END OF YEAR
31 March 2015
Purchases time entry
Consumable Inventory Dr
To Vendor
consumption time entry
Consumption Dr
To Consumable inventory
Consumable Inventory Dr
To Vendor
consumption time entry
Consumption Dr
To Consumable inventory
Message likes :
1 times
20 July 2025
Yes, you can generally take VAT input credit on the purchase of consumables like paint if:
The paint is used exclusively for business purposes (like in your body shop for car repairing).
The supplier has charged VAT on the invoice.
You have valid tax invoices with the supplier’s VAT registration details.
You are registered under VAT and follow all rules for input tax credit.
The paint is used exclusively for business purposes (like in your body shop for car repairing).
The supplier has charged VAT on the invoice.
You have valid tax invoices with the supplier’s VAT registration details.
You are registered under VAT and follow all rules for input tax credit.
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