Fixed assets
This query is : Resolved
20 July 2015
Dear all,
I purchased Plant & Machinery for RS 50 crores on instalment basis i.e 10crores for 5 instalment . Subsequently while paying last instalment the vendor wavied off Rs 10 Lakhs.
My query is whether shall I decrease Plant & Machinery value for Rs 10Lakhs in my books of accounts for subsequent changes.
will it deffer if it is not an instalment basis?
I purchased Plant & Machinery for RS 50 crores on instalment basis i.e 10crores for 5 instalment . Subsequently while paying last instalment the vendor wavied off Rs 10 Lakhs.
My query is whether shall I decrease Plant & Machinery value for Rs 10Lakhs in my books of accounts for subsequent changes.
will it deffer if it is not an instalment basis?
20 July 2015
Yes reduce the machinery value. It will not differ.
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