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Imported machinery

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(Querist)
21 February 2011 when machinery import from the foreign country what will be the effect of the custom duty which is to be paid when the machinery imported. give briefly description.
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CA Chandresh Agrawal

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CA Chandresh Agrawal (Expert)
22 February 2011 Custom duty paid will be added to its cost and you can claim depreciation on tht value.

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