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Treatment of stamp duty payable on registry of land

This query is : Resolved 
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10 December 2020 A company gets demerged and got land from the transferor. As per the scheme, the land will be transferred as book value and land has been transferred as per the scheme. While preparing the Financial Statements, registry of land could not be done and stamp duty payable on such transfer has not been shown due to non valuation of land.
As per Ind-as 16, should company treat stamp duty expenses as current liability and consequently treat it as part of Fixed assets?
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
26 December 2020 Yes...these expenses should be accrued while preparing Financial Statements and these would become a part of Fixed Assets.
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