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Capitalization of expense

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(Querist)
19 February 2020 can we capitalize expenses like Logistics & delivery charges, TR amount for Vehicle??
and let me know the discount need to less from asset value or reduce from Maintenance of vehilce? which is correct way ??
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Gokul Sharma

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Gokul Sharma (Expert)
19 February 2020 ALL EXPENSES RELATED TO NEW VEHICLE CAN BE CAPITALISED. discount should be reduce from asset value.
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Amol S Joglekar

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Amol S Joglekar (Expert)
19 February 2020 The expenses related with the purchase can be capitalised. Discount should be reduced from the value
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thotasrinivas

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thotasrinivas (Querist)
19 February 2020 they gave credit note. how to account for? need to reduce from asset?
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Amol S Joglekar

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Amol S Joglekar (Expert)
19 February 2020 yes, you can do the same by reducing the value
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