Without vat on fixed asset, is it treated as a fixed asset?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2013
Dear Sir/Mam,
Our Company Software Development Export Company, Vat and Service Tax Not Applicable. We have purchased FIXED ASSET without VAT, It shall be Treated as Fixed Asset.
Regards,
Venkat
Our Company Software Development Export Company, Vat and Service Tax Not Applicable. We have purchased FIXED ASSET without VAT, It shall be Treated as Fixed Asset.
Regards,
Venkat
Dintakurthi Tirumala
(Expert)
09 April 2013
To treat it as fixed asset nature and purpose of investment is important due to the non applicability of taxes we can't say it as fixed asset. So you can treat the purchases of assets as fixed asset.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
Message likes :
1 times
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
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Under marginal scheme
- Oct 2025 Invoices
- TAX AUDIT ON PROFESSIONAL INCOME
- GST on Renting godown to KFCSC for Storage of Raagi
- Import of Software Service.
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
