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Capitalization

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(Querist)
13 July 2011 Dear friends..

My query is very simple regarding capitalization of certain expenditure. While purchasing a machine, i.e., import of a machinery, do we capitalize the customs duty paid for it?? All the other expenses related to the installation, etc are capitalized but what about the customs duty paid? is it to be treated as an expense or should it be capitalized?

Waiting for a reply...asap..
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CA Navin Jain

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CA Navin Jain (Expert)
13 July 2011 all expenses upto put to use of fixed assets shall be capitalised and custom duty also would be capitalised
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