Accounting treatment for building improvements

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0 Points Posted on 19 June 2021

what will be the accounting entries for new fire alarm, fiber and cctv camera installation in building?

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On 19 June 2021 at 19:00 Report
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This discussion clarifies the accounting treatment for new building installations like fire alarms, fibre optic cables, and CCTV cameras. These improvements can generally be capitalised as office equipment or plant and machinery. You may also be able to claim Input Tax Credit (ITC), with the net value recorded as a fixed asset.

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My grammar is 💯 good I
7306 Points Posted on 19 June 2021

Add them to PPE if they are used in production

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On 19 June 2021 at 20:20
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CMA
13117 Points Posted on 19 June 2021

It can be capitalised as office equipment. You may avail ITC and the net value can be accounted as fixed assets.

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On 19 June 2021 at 21:05
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CMA
13117 Points Posted on 19 June 2021
Originally posted by : CMA Poornima Madhava
It can be capitalised as office equipment. You may avail ITC and the net value can be accounted as fixed assets.

Capitalise as office equipment or plant and machinery as applicable

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On 19 June 2021 at 21:06

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