26 January 2012
If expenses have been incurred for bringing raw material like sand, used in construction of building, to the site nd for unloading of such sand from the truck, whethr such expenses have been capitalised under 'building under construction a/c' or charged as revenue exp under 'labour exps a/c'..?? Thankx
27 January 2012
pl check the assets avaialble in this case. if there are some assets for which the expenses are incurred then it may be capitalised. pl check in substance the nature of Expenses. If there are no assets and the expenses are incurred for repairing of the building then it may be charged to revenue..
CAclubindia
