NIKIT SHETH (Chartered Accountant) (55 Points)
14 January 2011In Annexure F of Form 704, there is a requirement of filling Purchases that are capitalised.
Can this be defined as capital asset purchased during the year along with VAT Capitalised as per rule 53(7A)
or does this mean something else???? Plz Reply..... Its Urgent.
Roshan N. Varma
(Article student)
(47 Points)
Replied 15 January 2011
Hi Nikit,
The sentence in Annexure F (point no. 13) 'Out of Maharashtra purchases which are capitalised' exactly means that fixed assets which is purchased out of Maharashtra state. In other words, it exclude purchases within maharashtra state.
CAclubindia
