Regarding the treatment of Expenses on the occasion of New Year

All entertainment expenses are expenses. Perks are indirect expenses

Entertainment expenses cannot be tax incentivised and they have the highest tax rate

@ Raja PM

Company vehicle delivering goods to its customers:

Fuel expenses are direct costs included in closing stock

Repairs and maintenance is indirect cost correct?

Originally posted by : Yasaswi Gomes new
	@ Raja PM   Company vehicle delivering goods to its customers: Fuel expenses are direct costs included in closing stock Repairs and maintenance is indirect cost correct?

Yes, You are exactly correct.

May be Some times the delivey vehicle's fuel considering into Indirect Exp.

But, Generally this practice not in force...

I can understand why. Thats because its hard to forecast number of deliveries to include them into inventory and thats why they use revenue recognitions transaction cost method. But NRV valued inventories have fuel expenses included into the selling price

Originally posted by : Yasaswi Gomes new
	I can understand why. Thats because its hard to forecast number of deliveries to include them into inventory and thats why they use revenue recognitions transaction cost method. But NRV valued inventories have fuel expenses included into the selling price

Yes Correct...

Some of the employers want exact details of the transactions and insist employees for keep the transporting as separately like Delivery and Inwards...

Originally posted by : RAJA P M
	Originally posted by : Yasaswi Gomes new I can understand why. Thats because its hard to forecast number of deliveries to include them into inventory and thats why they use revenue recognitions transaction cost method. But NRV valued inventories have fuel expenses included into the selling price Yes Correct... Some of the employers want exact details of the transactions and insist employees for keep the transporting as separately like Delivery and Inwards...

In this way they keep two ledger under Indirect and Direct 

I think nrv valued inventories dont hold fuel as direct expense because all costs necessary to make sale are subtracted from it. We can conclude its an indirect cost!!

Originally posted by : Yasaswi Gomes new
	I think nrv valued inventories dont hold fuel as direct expense because all costs necessary to make sale are subtracted from it. We can conclude its an indirect cost!!

Yeah...

If trading business then its Indirect...

If mfg under Direct & (and/if segregate then Indirect)

Originally posted by : Yasaswi Gomes new
	I think nrv valued inventories dont hold fuel as direct expense because all costs necessary to make sale are subtracted from it. We can conclude its an indirect cost!!

Yeah...

If trading business then its Indirect...

If mfg under Direct & (and/if segregate then Indirect)