Taxes payable-VAT payable (input tax) 5 1000
Loan: 353,000 yuan in bank deposit.
It should be noted that before, the value-added tax on fixed assets could not be deducted (except in the northeast pilot area). However, at present, China has reformed the productive value-added tax into the consumption value-added tax, and the new value-added tax law stipulates that the value-added tax on fixed assets except automobiles, yachts and motorcycles can be deducted. For details, please refer to the information on the transformation of value-added tax in China.