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Fixed asset capitalisation

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atul Vivek puranik

atul Vivek puranik (Querist)
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01 January 2019 Hi,
I have purchased Plant & machinery in Apr.18.(27.04.18) but bill is received in Jun.18.As bill is received in Jun.18 it is capitalized in books in Jun. input GST credit is taken in June & also tax is deducted in Jun and paid in July on installation charges.

Now to avoid capitalization & depreciation implication, can i make such entry in Fixed asset register in Apr.18 instead of Jun ? without changing in books of accounts to calculate and charge depreciation correctly in books?

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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01 January 2019 you can book purchase Machinery as on Bill date i.e.. April take ITC on June .

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