i am a registerd Dealer in Delhi i have Purchase Some
Capital goods can i take inpute vat banifit if yes pls
spacifie.

Answers were Sorted based on User's Feedback



i am a registerd Dealer in Delhi i have Purchase Some Capital goods can i take inpute vat banifit ..

Answer / vickykapoor20

VAT PAID ON CAPITAL GOODS CAN BE CLAIMED . BUT NOT IN ALL
AT SAME TIME . THERE IS A RULE IN DVAT ACT. I THINK IT CAN
BE CLAIMED IN THREE YEAR EQUALY.

Is This Answer Correct ?    3 Yes 0 No

i am a registerd Dealer in Delhi i have Purchase Some Capital goods can i take inpute vat banifit ..

Answer / amasiwal.222@gmail.com

From my point of view , you cannot tke any benefit for this
because as per rules of VAT u can claim benefit only on
resale of those goods .
As you are mentioning Capital goods and that is your fixed
Assets which will be definitely not for resale so you
cannot claim any benefit under this...

Is This Answer Correct ?    0 Yes 2 No

Post New Answer

More Accounting General Interview Questions

Please help me with the accounts head for the below ledgers for e.g. for Salary A\c - Indirect Expenses is the account head in tally. what is the account head for below ledgers. Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary Payable A/c Dr. xxx To Cash / Bank A/c xxx

0 Answers  


What is the general net worth percentage banks will observe while sanctioning the Loans for Tranding, Construction and Manufacturing units.

0 Answers  


IF WE PURCHASE TV FOR PERSONEL THEN WE DIDNT RAISE PURCHASE ORDER WHY ?

3 Answers   Accenture,


How to pass entry for fllowing instance in tally or journal entry: Imported goods worth Rs.17,000/-.Invoice value is Rs.17000/- (its incl. Rs.6,000/- freight), duty for this is Rs.4500/- (its seperate).Kindly tel me how to pass entry for the above?

13 Answers  


Have you ever made mis reports and what are they?

0 Answers  






What is Bank Reconciliation Statement? How to calliculate in tally erp9.0?

0 Answers  


The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2

0 Answers  


What is the limitaion of the Trial Balance?!

0 Answers  


How can I put Bank Guarantee Receipt entry in Tally ERP9?

0 Answers   Shaqab,


What is the difference in accounting and marketing and what is so different about them?

0 Answers  


why we used D1, C4 & C form ? pl. ans me in detail.

1 Answers  


How to do accounting entries in Accounts Payable

1 Answers   Accenture,


Categories