01 January 2019
Hi, I have purchased Plant & machinery in Apr.18.(27.04.18) but bill is received in Jun.18.As bill is received in Jun.18 it is capitalized in books in Jun. input GST credit is taken in June & also tax is deducted in Jun and paid in July on installation charges.
Now to avoid capitalization & depreciation implication, can i make such entry in Fixed asset register in Apr.18 instead of Jun ? without changing in books of accounts to calculate and charge depreciation correctly in books?
CAclubindia
