Vat on purchase of fixed assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
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/-.
Pls. Explain
Depreciation has to be Calculated in which Amt. Rs.90000/- OR Rs.101250/-.
Pls. Explain
30 December 2012
if you have taken VAT set off then calculate depreciation on Rs.90000
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