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can bank charges on foreign remittance be capitalized
we are constructing an asset for which we imported some equipments from USA...while we are remitting the payment to the foreign party...we incurred some bank charges...my doubt is whether the bank charges can be added to the cost of CWIP? please suggest....import duty is capitalised fir sure.... treatment of bank charges???
Replies (2)
yeah all the expenses incurred to put the asset to present location can be capitalized.
Yes, you can capitalise the expenses till the asset that you are constructing is ready and put to use
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