generator purchased
This query is : Resolved
14 July 2011
I purchased a old and used generator from gujrat when it comes from gujrat throw my own transport police deduct a challan of Rs 13000 due to overload of truck .so I want to ask that can i capital that challan amt. in generator cost ? if no where i can book that cost in my account. reply fast.
CMA Ramesh Krishnan
(Expert)
14 July 2011
This kind of penalty, not forming part of cost of assets
15 July 2011
sir i am not satisfied with your answer because you did'nt give full solution to my query
CMA Ramesh Krishnan
(Expert)
15 July 2011
Please refer AS-10 for capitalization of fixed assets, Transportation cost can be part of fixed assets,but the nature of penalty may not be
15 July 2011
sir if i can't book that amount in generator cost where i can book that amount in my account book
16 July 2011
This is a kind of penalty so you can not take any benefit of it.
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