Income tax
This query is : Resolved
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.
04 June 2015
It should be capitalised. Do not show as repairs and maintenance.
Message likes :
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05 June 2015
yes you can take cenvat and take as addition for that.
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