Hi everyone.
Can anybody tell me entry tax paid on capital items like machinery and other equipments is capitalised with the machinery amount????
Plz reply
Niraj Jaluka
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Entry Tax
Replies (2)
Yes,
Entry Tax paid on purchase of Machinery & other equipments should also to be Capitalised.
Although set-off can be availed of the amount of Entry tax paid from VAT liability.
yes it is to be capitalised as its a part of expense to get the machinery etc. to premises
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