INTERVIEW QUESTIONS TAX VALUE ADDED TAX DETAILS

Question: What are Capital Goods under the Value Added Tax (VAT) Act?

Answer: Capital Goods means:–

a) plant, machinery, equipment, apparatus, tools, appliances or electrical installation for producing, making, extracting or processing of any goods or for extracting or for bringing about any change in any substance for the manufacture of final products;

b) Pollution control, quality control, laboratory and cold storage equipment;

c) Components spare parts and accessories specified at (a) and (b) above;

d) moulds, dies, jigs and fixtures,

e) refractors and refractory materials,

f) tubes, pipes and fittings thereof; and

g) Storage tanks.

used in the State for the purpose of manufacture, processing, packing or storing of goods in the course of business excluding civil structures and such goods as may be notified by the Government.

Capital Goods means:–

a) plant, machinery, equipment, apparatus, tools, appliances or electrical installation for producing, making, extracting or processing of any goods or for extracting or for bringing about any change in any substance for the manufacture of final products;

b) Pollution control, quality control, laboratory and cold storage equipment;

c) Components spare parts and accessories specified at (a) and (b) above;

d) moulds, dies, jigs and fixtures,

e) refractors and refractory materials,

f) tubes, pipes and fittings thereof; and

g) Storage tanks.

used in the State for the purpose of manufacture, processing, packing or storing of goods in the course of business excluding civil structures and such goods as may be notified by the Government. Source: CoolInterview.com

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