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capitalisation of vat fixed assets

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(Querist)
15 May 2009 WHETHER VAT SHOULD BE CAPITALISED IN PURCHASE OF FIXED ASSEST

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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
16 May 2009 It will depend whether the copmany is getting the credit for the VAT paid.
If it, then it doesn't have to.
If it doesn't, it has to capitalized.

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