Entry of building under construction

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aman (Querist)
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26 January 2012 If expenses have been incurred for bringing raw material like sand, used in construction of building, to the site nd for unloading of such sand from the truck, whethr such expenses have been capitalised under 'building under construction a/c' or charged as revenue exp under 'labour exps a/c'..?? Thankx

G soni

G soni (Expert)
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27 January 2012 pl check the assets avaialble in this case. if there are some assets for which the expenses are incurred then it may be capitalised. pl check in substance the nature of Expenses. If there are no assets and the expenses are incurred for repairing of the building then it may be charged to revenue..

aman

aman (Querist)
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27 January 2012 Institute is paying unloading charges for unloading of cement which will be used for d construction of building. Now what.?

G soni

G soni (Expert)
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28 January 2012 then it has to be capitalised.

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