My company building and stock pledge by against for Packing credit loan and bank chg a sum ruppee of 8000 for insurance premium for building and stock safety and now ques is arise that's where we book the exp in books of account in Bank Chg ? / Insurance Premium any other head plz reply
Menu
bank chg entry
Replies (2)
Interesting situation.
I will surely come back to see what the correct treatment is as suggested by experts.
As per my basic knowledge, such Rs 8,000 should be treated as borrowing cost.
You cannot capitalise insurance premium paid on assets. In my opinion it is not a borrowing cost. I guess Should be booked as insurance premium only.
Any other opinion invited.
Recent Threads
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
- Delivery Challan serial number Issue and return ru
- After filing form 71 For TDS mismatch
- UNCLAIMED TDS REFUND QUERY
- Rcm payable which head
Related Threads
CAclubindia
