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Query regarding on depreciation
Dear,
We are Paints distributor firm. We did purchase one weighing scale for sale purpose but when we purchased weighing scale at that time we paid 15% tax and we did not claim input credit and also with not showed part in capital goods but we had do weighing scale entry in fixed assets account. But at this time that weighing scale we are selling then customer are demanding tax bill from us. How we give bill to customer.
Replies (2)
You have to rewise your vat return claiming input vat.
If it is not possible you can issue sale invoice for this product but you have to pay vat 15%.
Dear Member,
what is the rate of depreciation as per companies act in following business business. or send us the excel chart of depreciation as per companies act 2013.
Regards
Hukam Chand
hcbhardwaaj @ gmail.com
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