Capitalization

This query is : Resolved

Piyush Newar (Querist)
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01 June 2011 At what rate should the Imported Asset be capitalized in books. In my opinion the same should be done @ bill of entry date. But is there any alternate opinion.

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Kumar Babu.G

Kumar Babu.G (Expert)
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01 June 2011 Generally all people will adopt bill of entry date only.

Ashok Asthana

Ashok Asthana (Expert)
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01 June 2011 Preferably capitalize from the "put to use" since normally time taken from BOE date to put to use date can be more than 15 days also.

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Pankaj Gandhi Jaiswal

Pankaj Gandhi Jaiswal (Expert)
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05 June 2011 Booking the liabality of bill and Put to use date both are different matter...for booking the bill you can take bill of entry date and for this Put to use date has no relevance.