Status holder incentive scheme(shis)

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Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2015 if i take a license of SHIS for purchase of asset and i had incurred expense of Rs. 10000 on purchase of this license then can i capitalise this expense or not?

Arpit Shah

Arpit Shah (Expert)

24 December 2015 https://taxguru.in/excise-duty/exemption-status-holder-incentive-scrip-shis-scheme.html

Querist : Anonymous

Querist : Anonymous (Querist)

25 December 2015 Can you please clarify this because it is not clear according to these article?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

26 December 2015 Status Holder Incentive Scrip (SHIS) shall be used for import of capital goods (as
defined in FTP) relating to sectors specified in Para 3.16.4

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2015 yes, but i want to ask that expenses that are incurred on purchase of SHIS can be capitalised by me or not. I am not talking about SHIS value.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

26 December 2015 Pls Note that expenditure is capitalised only when it increases the future economic benefits from the specific asset to which it relates.

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