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Vehicle purchase and debit note for depreciation calculation

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(Querist)
23 May 2023 i am buying a truck worth 28 lakh, the dealership issued invoice for 33 lakh and then raised credit note of 5 lakh, so my question is should i take depreciation on 33 lakh or 28 lakh.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 May 2023 It's debit note or credit note.
The payment is for 28 lacs then charge depreciation on 28 lacs
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Ram Gupta

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Ram Gupta (Querist)
23 May 2023 it's credit note from dealership side, also, payment made is 1lakh and remaining done by financer.



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 May 2023 I thought it's credit note.

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