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Capitalization

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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.

Thanks & Regards

01 June 2011 Generally all people will adopt bill of entry date only.

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.


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.



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