Friends,
Whether Mvat set off on capital work in progress to be taken in the year when capital goods ready to use or in the year of invoice date ?
Friends,
Whether Mvat set off on capital work in progress to be taken in the year when capital goods ready to use or in the year of invoice date ?
VAT is chargeable on the invoice amount or on the advances received with respect to WIP.Subsequently the tax paid on advances can be adjusted against the value of work shown in the following invoice/s........mjk
Shyam Joshi & Associates
Pune
B.Com
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SMJ global advisors pvt ltd
New Delhi
B.Com
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O P Bagla & Co LLP
New Delhi
CA Inter
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T R SOOD & CO
New Delhi
CA Inter
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CAclubindia
