Capitalization
This query is : Resolved
01 June 2011
At what rate should the Imported Asset be capitalized in books. In my opinion the same should be done @ bill of entry date. But is there any alternate opinion.
Thanks & Regards
Thanks & Regards
01 June 2011
Generally all people will adopt bill of entry date only.
01 June 2011
Preferably capitalize from the "put to use" since normally time taken from BOE date to put to use date can be more than 15 days also.
05 June 2011
Booking the liabality of bill and Put to use date both are different matter...for booking the bill you can take bill of entry date and for this Put to use date has no relevance.
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