Depreciation calculation starting date?

Others 1075 views 1 replies

As per excise audit we have reversed cenvat credit on capitive consumption for canteen building in sep-2011.

Now the same reversal amount we are going to be capitalized in Fy-2011-2012. But the basic amount of canteen building we capitalised in FY.2010 -2011 only .So please clarify, from which date we have to calculate the depreciation.

 

Replies (1)

Depreciation will be calculated from F.Y.2010-11 on the basic amount which was being capitalised. 

In F.Y. 2011-12 depreciation will be calculated on teh WDV as on mar11 & also on the amount of cenvat credit availed whihc is now benig reversed & capitalized.


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