Tools whether capital & revenue expenditure
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 October 2017
Dear Experts,
We have purchased the tools with 18 GST to assemble the finish goods. Pls clarify my following doubt..1) whether the tools is revenue or capital expenditure.... 2) can we avail the ITC of GST paid on this tools?
Thanks
ASAP
We have purchased the tools with 18 GST to assemble the finish goods. Pls clarify my following doubt..1) whether the tools is revenue or capital expenditure.... 2) can we avail the ITC of GST paid on this tools?
Thanks
ASAP
05 October 2017
It's to Expenditure head. Also you can avail the ITC benefits...
Udaya Chandran
(Expert)
05 October 2017
You can debit the expenses to revenue expenditure.
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