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Capitalized accounting

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(Querist)
14 August 2019 PURCHASE OF RS.10,00,000/- AND TRANSPORTATION CHARGES 99000/- IN SEPARATE BILL BY TRANSPORTER WHICH AMOUNT IS CAPITALIZED
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Gokul Sharma

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Gokul Sharma (Expert)
15 August 2019 what is purchased ??? material or asset ?
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CA PARTH SHAH

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CA PARTH SHAH (Expert)
16 August 2019 Since you are asking about capitalising in books of accounts, I assume you have bought a fixed Asset. So Rs 10,99,000 to be capitalised in books of account although seperate bill of transportation cost given by transport company because as per accounting standards, cost of fixed asset shall include all the costs incurred to bring asset to place of use.
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