Suppose a dealer purchases an asset of Rs 10000 and pays Rs 400 as vat so he can take set -off of Rs 100 as per rule 53 what about the balance Rs 300 should it be capiatalised
Pranay Kothari (CA) (415 Points)
03 November 2009Suppose a dealer purchases an asset of Rs 10000 and pays Rs 400 as vat so he can take set -off of Rs 100 as per rule 53 what about the balance Rs 300 should it be capiatalised
MAHENDRA LAD
(Service)
(112 Points)
Replied 04 November 2009
| Originally posted by :Pranay Kothari | ||
| " | Suppose a dealer purchases an asset of Rs 10000 and pays Rs 400 as vat so he can take set -off of Rs 100 as per rule 53 what about the balance Rs 300 should it be capiatalised | " |
Pranav,
now u can get a set-off of 2% instead of 1% so after taking the set-off of Rs.200/- the balance amt of Rs.200/- you capitalised.
CA Manish Tarwani
(Officer - Taxation)
(47 Points)
Replied 07 December 2009
i think so it " YES "
bcoz it will became u r cost , so capatilizad
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