AS 10 Fixed Assets
This query is : Resolved
cineshjoseph
(Querist)
21 March 2011
How to treat expenditure on temporary constructions like fabrication sheds, chain link fencing etc which are constructed to facilitate main project and are to be dismantled on completion of project? How to treat these expenditure ie charged to revenue or to be treated as general overhead and apportioned among various assets under main project?
Is there any specific para in AS or guidance note? Pls refer if those are available.
Is there any specific para in AS or guidance note? Pls refer if those are available.
CA Ravi Sisodia
(Expert)
21 March 2011
expenditure on temporary constructions = 100% depreciation will be allowable in the year of construction.
10 June 2011
This will not be capitalised and this will be part of project cost..book in the year when it is incurred
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