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PUT TO USE OF ASSETS

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MAYUR JOSHI

MAYUR JOSHI (Querist)
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28 December 2009 WILL ANY ONE WILL GIVE ME A FORMAT TO HAVE A ASSETS PUT TO USE.

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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28 December 2009 Generally; whenever Plant is erected by the Engineeer; he prepares a report of completion on which plant incharge signs in token of work verified. If from the document it could be concluded that installation is complete; then it can be said that machinery has been put to use.

No other formalities is required.

Regarding particular asset; ensure whether all the primary needs are fulfilled before the asset is put to use. For example; if machinery has been purchased but required electrification is not completed; then it cannot be said that plant has been put to use.

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