Fixed asset
riddhi (student) (746 Points)
25 August 2016riddhi (student) (746 Points)
25 August 2016
Kalki Vital Narayanam
(CA Final Student)
(121 Points)
Replied 25 August 2016
All the expenses which are incurred in order to acquire an asset need to be capitalised as per AS-10: Acounting for Fixed Assets.So duties Paid will also forms part of the cost of the asset
CA Rahul Mor
(Chartered Accountant)
(173 Points)
Replied 09 September 2016
All expenses related to fixed assets purchase added in the cost of fixed assets till the put to use,
only those duty wich is irrecoverable will be added to the cost of fixed assets.
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