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Jigar (B.Com)     19 June 2021

Fuel Expenses

If we dont show any Assets in balance sheet but we claim fuel expenses in p&l a.c. is it correct??

 4 Replies

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     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

1 Like
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     19 June 2021

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

2 Like
CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     19 June 2021

You can enter in p&l account if it relates to business
1 Like

Sourav (Student)     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 Like

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