Meaning of the Term “ Actual Cost” Under
Various Provision Of The ITACT Components of Cost of Fixed Assets.
Purchase
Price
(Subject to rebates and trade discounts)
PLUS
IMPORT
DUTIES AND OTHER NON-REFUNDABLE TAXES AND LEVIES
PLUS
ANY
OTHER DIRECT COST
(for
bringing the asset to its working condition for its intended use)
PLUS
Capitalised
money value of pre operative expenses
(Subject
to sec 35D)
PLUS
FINANCING
COST
(Borrowing
cost)
MINUS
(Subsidy/Grant/Reimbursement
from Govt. or other Authority)
PLUS
OR MINUS
Fluctuations
in foreign currency
MINUS
Incomes
which reduce the cost
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