What is the treatment of non refundable license fees in case of manufacturing unit. Is treated as an Intangible Assets in the balance sheet as per AS-26 , but it is not having any life so not possible to amortize,
Any other treatment.
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Non refundable license fees treatment
Replies (1)
Yes mam
As per AS 26 it should be intangible assets but since it does not have any economic life hence it should be written off in the year in which it was incurred.
Write off full amount in current in year itslef in P& L A/c.
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