Treatment of carriage inward on purchase of fixed asset
This query is : Resolved
26 March 2018
Dear Sir ,
How to treat carriage inward and other charges on purchase of fixed asset like Plant & machinery ? Should it be capitalised or charge to P&L ??
How to treat carriage inward and other charges on purchase of fixed asset like Plant & machinery ? Should it be capitalised or charge to P&L ??
28 March 2018
Only the amount which are charged for installation of machinery (put to use) should be capitalized. All other expenses should be transferred to P&L Account.
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