Deprication and credit
This query is : Resolved
14 September 2012
IF PURCHASE PRICE OF MACHINERY IS RS. 110(100+EXCISE 10) AND WE HAVE TAKEN CREDIT OF RS. 10 CAN WE TAKE DEPRECIATION ON 100?
14 September 2012
Why the doubt, when you avail credit of 10, the DEPRECIATION has to be taken on 100 and not 110/-
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15 September 2012
if i take excise credit so can i claim depriciation also
15 September 2012
Once the credit is taken, the actual cost will go down and you will be eligible to charge depreciation on the NET amount... 100 in your cited example.
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