12 July 2008
Suppose commercial production starts from the date 1 apl 08. What about foreign exchange gain or loss for the period prior to 1 apl -08 arising on the assets purchased. Whether the same needs to be capitalised as pre operative expenses?
25 July 2008
There will be not foreign exchange loss or gain on asset purchased. If the loss is bcoz of foreign loan taken for such purpose then, it should be capitalised as pre operative expenses.
CAclubindia
