Capitalisation on Fixed Asset
Sanjeev Kumar (18 Points)
21 March 2021Freight Paid to Mr. B for this Fixed Asset Rs 30,000 (GST RCM PAID)
Now Capitalisation of Fixed Asset would be at Rs ................
Sanjeev Kumar (18 Points)
21 March 2021
Pramod Limaye
(Chartered Accountant)
(172 Points)
Replied 22 March 2021
Freight incurred to bring the asset to the location of installation has also to be capitalised.
Pramod Limaye
(Chartered Accountant)
(172 Points)
Replied 22 March 2021
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
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 22 March 2021
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