Plant & machinery
This query is : Resolved
14 July 2014
Dear friends,
purchase of plant & mach for rs 5lac and transpot charges 20000, installation chargs 10000 and insurance paid for 1 year, wht is the asset cost and insurance treatment here.
14 July 2014
all will be cost of asset = 500,000+20,000+10,000=5,30,000
15 July 2014
yes, 5,30,000 will be cost of machine for capitalization purpose.
insurance is taken for one year, so it seems its fire policy type, so this will debited to P&L.
insurance is taken for one year, so it seems its fire policy type, so this will debited to P&L.
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
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Tds on building rent monthly
- 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
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
