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Exp. capital or revenue

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(Querist)
25 April 2013 A company is under construction. it pays ROC fee & Audit fee.
Whether these expense shall be part of capital work in progress or revenue because these are not incidental expenses
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CMA Nishad Patkar

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CMA Nishad Patkar (Expert)
26 April 2013 As per the guidance Note on Treatment of Expenditure during construction period issued by the ICAI , Preliminary corporate Expenses should be carried Forward on the Balance Sheet Date and Shown As Miscellaneous Expenditure to the extent not written off and amortized within a period of three to five years after commencement of business or commercial production.

It is noted that Unlike exiting Schedule VI, under Revised Schedule VI Misc. Expenditure to the extend not W/off is Reduced from Reserves or to be shown as Non- Current Assets.
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