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Capitalization of ERP related cost
Is it required to capitalize the amount paid for integrating the GST module in ERP system? Amount paid is between 2-3 lacs by a company having turnover below 100 Crore. Please give any references to substantiate your answer. Thanks in advance.
Replies (1)
Since the purchase is towards additional feature to the existing asset which has future benifit, the same has to be capitalized in books. However if the company has any accounting policy where in the purchase of value less than value to be expemsed off then you can do accordingly
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