Hi,
i have to enred a entry of purchase of fixed assets entry.
Example i've purchase computer on this bill supplier have added a input vat @ 12.55 and additional tax @ 2.5%.
computer is fixed assets for me .now i'm confusing which vat class i have to take for it.
Dr. Computer Rs.20000
Dr. inputvat Rs.2500
Cr. Xyz Rs.22500
Is this right or not?
which vat class i have to take.
CAclubindia
