Depreciation on Imported asset
This query is : Resolved
28 April 2009
We hv imported few machinary during the year 2008-09 for which we have not paid till 31.3.2009.so as per Revised AS-11 (MCA notification dt.31.3.2009 G.s.R 225(E))we hv added the exchange difference to asset on 31.3.2009. can we charge depreciation on exchange fluctuation amount? Kindly advice on the above issue.
28 April 2009
Yes, You can charge depreciation.
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