Fixed Assets purchase from Mr A at Rs 1,18,000
Freight Paid to Mr. B for this Fixed Asset Rs 30,000 (GST RCM PAID)
Now Capitalisation of Fixed Asset would be at Rs ................
Freight incurred to bring the asset to the location of installation has also to be capitalised.
Still the concept of capitalisation remains. It is an expenditure incurred to bring asset to the location of installation and then only asset will start performing. It is not necessary that you have to pay freight to the supplier of the asset
O P Bagla & Co LLP
New Delhi
CA Inter
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Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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CAclubindia
