Imported fixed assets accounting

This query is : Resolved

lokesh (Querist)
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03 September 2013 Custom Duty@7.5%& Cess
CVD@12% & Cess
Import Duty@ 4%

BE Date

1.at what amount capital assets should be capilised in BOA
2.Assessee has claimed and taken 50% input of custom duty.
3.What should be the treatment of frieght paid in india and abroad
4.what should be the dates for calculations of Forex Gain.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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03 September 2013 Ans 1 and 2. Refundable taxes should not be capitalised.
3.it shall be added to cost if incurred before bringing it to location for use.
4.date of purchase,any additions made, foreign technicians paid if any, bal sheet etc.