Revised sch. vi
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 October 2012
ACCORDING TO REVISED SCH. VI WHAT WILL THE TREATMENT OF PRELIMINARY EXPENSES AND PRE-OPERATIVE EXPENSES (TO THE EXTENT NOT WRITTEN OFF). WHERE AND IN WHICH HEADING THESE ITEMS WILL BE SHOWN.
07 October 2012
According to Revised Schedule VI, Accounting Standards prevails over Schedule VI. AS 26 says that any such expenses does not qualify to be ASSET.
As such legally such expenses does not have any existence. Still if anyone has such expenses, show it in "Other Non-Current/Current Asset" depending on their tenure of write off.
As such legally such expenses does not have any existence. Still if anyone has such expenses, show it in "Other Non-Current/Current Asset" depending on their tenure of write off.
07 October 2012
If the second alternative is adopted,among the two mentioned above, the sub line item may be named as "unamortised expenditure".
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
