Purchase of capital goods agst form c

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Dear sir,

Can we purchase Machineries agaist form "C" use manufacturing process.

if yes pls suggest me whether the said machineries can we took into assets of the comapny & shows in asset side of the balancesheet.

Pls any one clarify.

 

Regards,

Manjunath

Replies (2)

no you cant show in balance sheet as asset because; cst is isuued to goods which are reslod. not for fixed asset even though if you have paid cst already you can't treat it as asset 

Not Agree with DHRUVA K S.

 

Sir you can show it as Asset. Form C is declartion which provide that the said goods will be use for "the *resale / use in manufacture /processing of goods for sale / use in mining / use in generation / distribution of power / packing of goods for sale / re-sale" 

Purchase Machinary use in manufacturing process of goods. 
 


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