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
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.
CAclubindia
