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Treatment of carriage inward on purchase of fixed asset

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(Querist)
26 March 2018 Dear Sir ,
How to treat carriage inward and other charges on purchase of fixed asset like Plant & machinery ? Should it be capitalised or charge to P&L ??
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Sandeep Dharar

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Sandeep Dharar (Expert)
28 March 2018 Only the amount which are charged for installation of machinery (put to use) should be capitalized. All other expenses should be transferred to P&L Account.
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