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Fuel Expenses

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B.Com
153 Points Posted on 19 June 2021
If we dont show any Assets in balance sheet but we claim fuel expenses in p&l a.c. is it correct??
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On 19 June 2021 at 19:35 Report
Replies (4)
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My grammar is 💯 good I
7301 Points Posted on 19 June 2021

You can claim if it allowed and besides the company need not own a car, it can rent a car or borrow a car

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On 19 June 2021 at 20:12
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CMA
13117 Points Posted on 19 June 2021

Yes, you may claim if it is related to business.

2 Reply
On 19 June 2021 at 21:08
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GST Consultant
15986 Points Posted on 19 June 2021
You can enter in p&l account if it relates to business
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On 19 June 2021 at 21:10
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Chartered Accountant
24588 Points Posted on 20 June 2021
Yes you can claim fuel expenses in p/l a/c as it is an indirect expenses without showing assets in balance sheet
1 Reply
On 20 June 2021 at 05:49


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