Income tax
This query is : Resolved
Rakesh Sharma
(Querist)
04 June 2015
We are manufacturing pvt. ltd. company. we have purchased a Motor by Rs.30,000/- as the previous one was damaged.
Can we capitalised the above motor or show as repair & maint. of machinery? This type of transactions always made. What practice we have to make?
Can we take cenvat Credit of Excise duty on the same?
Please advise me.
Can we capitalised the above motor or show as repair & maint. of machinery? This type of transactions always made. What practice we have to make?
Can we take cenvat Credit of Excise duty on the same?
Please advise me.
Amol S Joglekar
(Expert)
04 June 2015
It should be capitalised. Do not show as repairs and maintenance.
Message likes :
1 times
Rupesh Jain
(Expert)
05 June 2015
yes you can take cenvat and take as addition for that.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Accounting treatment of AMC alongwith the purchase of Laptop
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
