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Vat on purchase of fixed assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 December 2012 Purchase of Assets Includes VAT. I want to know On which Amt. The depreciation has to be calculated. For E.G. Price of F.A. is Rs.90000/- (Net Amt.) and VAT @ 12.50% charged Rs. 11250/- Total Gross Value 101250/-.

Depreciation has to be Calculated in which Amt. Rs.90000/- OR Rs.101250/-.

Pls. Explain
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CMA Yogesh Deshmukh

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CMA Yogesh Deshmukh (Expert)
30 December 2012 if you have taken VAT set off then calculate depreciation on Rs.90000
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