29 July 2012
dear all, i purchased a capital asset for 25,00,000/-. now the bill i received is inclusive of:- -machine value -vat -freight
but these items are not shown seperately in the invoice i.e 25,00,000/- is inclusive of all these items.
so my query is whether should i claim freight of 1,00,000/- as an expense or consider it to be in machine cost i.e to capitalize the whole amount?? (the supplier had provided me the copy of bilty from which i came to know how much is the freight paid by the supplier)
sir, now some variation in my query... the capital asset is a crane which has been directly sent at the site of construction. the service receiver has reimbursed me rs75,000/- out of rs 1,00,000/- as mentioned above. now will this 75,000/- would form part of my income since i m claiming dep on rs 1,00,000/- freight by capitalising it as u suggested??
or will there b some better compliances or technique to do it??
CAclubindia
