Foreign exchange income/expenses on capital goods
This query is : Resolved
Ashutosh Gupta
(Querist)
23 January 2014
Hello, I wish to enquire that if the forex expense related to purchase of capital goods can be capitalised?
If yes, then after capitalisation they are to be written off OR to be used as part of Gross Block and depriciation to be charged thereof as normal course of business?
If yes, then after capitalisation they are to be written off OR to be used as part of Gross Block and depriciation to be charged thereof as normal course of business?
23 January 2014
All expenses to bring the asset to use can be capitalised and are to be recovered through depreciation.
Thanks!
Thanks!
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