As 16
This query is : Resolved
Moumita Sinha
(Querist)
26 July 2013
An asset which takes 7 months to get constructed for it's intended use, can it be defined as Qualified Asset?Whether the time period is relevant?
26 July 2013
usually the qualifying asset should take more then 12 months to be long term in nature.
time period is relevant.
time period is relevant.
Moumita Sinha
(Querist)
26 July 2013
But if it takes less than 12 months then such asset cannot be treated as Qualifying asset,and borrowing cost incurred on such asset cannot be capitalised?
26 July 2013
as-16 uses the word 'substantail period' which means normally 12 months or more then that.
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