Comiision on bank guarantee for importing fixed asset..
This query is : Resolved
Pankaj Kumar Mali
(Querist)
04 August 2012
Sir , I wanted to know the tax treatment for commission on bank guarantee which was given for importing of plant and machinery...whether capital or of revenue nature...
CA PARAS BAFNA
(Expert)
04 August 2012
It is a Capital Expenditure.
.
If the person is dealing in Machinery items then it is a revenue expenditure.
.
.
If the person is dealing in Machinery items then it is a revenue expenditure.
.
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