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asset value

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(Querist)
14 November 2008 if we purchase an asset For Rs.35000/-
that is inclusive of vat Rs.2500/-, my question is can i make entry for as value of asset is Rs.35000/- or as Rs.32500/-( After deducting vat Rs.2500/-)
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Ajith Kumar

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Ajith Kumar (Expert)
14 November 2008 if you are taking the Input Vat credit. then the value will be 32500, otherwise it is Rs.35000

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