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i am working in a construction company. my question is can
we claim VAT paid on items like (i. e . Vat paid on
stationery, purchase of printer catridge etc exp for
official use. indirect exp.) ?

Answers were Sorted based on User's Feedback



i am working in a construction company. my question is can we claim VAT paid on items like (i. e ..

Answer / bharathi

No, VAT Paid on Stationery and Purchase of Printer
Catridge expenses cannot be adjusted with Output VAT
because it is not at all involved in your construction
business so it is treated as indirec expenses.

Is This Answer Correct ?    4 Yes 0 No

i am working in a construction company. my question is can we claim VAT paid on items like (i. e ..

Answer / sandeep joshi

NO, THERE ARE NOT UNDER TDS RULES

Is This Answer Correct ?    1 Yes 0 No

i am working in a construction company. my question is can we claim VAT paid on items like (i. e ..

Answer / gulzar singh ( gulzar.thpl@gma

thanks

Is This Answer Correct ?    0 Yes 0 No

i am working in a construction company. my question is can we claim VAT paid on items like (i. e ..

Answer / g.venkateswararao

Here there is no eligibility to take vat input because of the
purchase of the item not involved in construction work so
so stationary and printer cartridge expenses not directly
involved in construction work

Is This Answer Correct ?    0 Yes 0 No

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Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

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