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Expenses head

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(Querist)
07 April 2013 hi

i want to know about an expense.

water tanker purchased for factory workings should go under which head??

Can it be grouped under Factory expenses??

pls guide.
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CA. RICHI SAXENA

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CA. RICHI SAXENA (Expert)
08 April 2013 Hi,

If The water tanker purchased is for long term use then it should be taken under Fixed assets and if it is to be utilised in the course of manufacturing and for short term purposes then it can be taken as expenses.

Regards,
CA. RICHI SAXENA
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