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L/C Opening Charges will be add in machinery cost

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 December 2010 Hai

Please advice me that L/C opening and amendment charges for import of machinery will be included in the total cost of machinery. Is accepted by IT?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
16 December 2010 Yes financial charges may be capitalized with assets as per AS 10.

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