29 December 2012
Purchase of Assets Includes VAT. I want to know On which Amt. The depreciation has to be calculated. For E.G. Price of F.A. is Rs.90000/- (Net Amt.) and VAT @ 12.50% charged Rs. 11250/- Total Gross Value 101250/-.
Depreciation has to be Calculated in which Amt. Rs.90000/- OR Rs.101250/-.
CAclubindia
