Valuation of capital work in progress
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2012
how is capital work in progress valued?
10 October 2012
All directly attributable costs are to be included.
For Ex.
Site preparation,installation costs ,all purchases,labour, erection etc..
Internal profits are to be eliminated,
General and administrative overheads are not considered.
No depreciation is charged on CWIP.
For Ex.
Site preparation,installation costs ,all purchases,labour, erection etc..
Internal profits are to be eliminated,
General and administrative overheads are not considered.
No depreciation is charged on CWIP.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 October 2012
thanku..
31 October 2012
In summary actual cost of the bring the assetes to the current location are considered to be part of the CWIP and the actual fixed asset. No internal profits / margins are considered. Generally dedicated engineers and team working direcrly on the projects should, however, must be considered for this purpose.
regards
regards
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 Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Form 26QB for TDS on property
- Payable outstanding for years disallowance
- RCM - commercial rent paid to URP under GST
- GST Annual Returns filing due date
- Legal heir raised refund , but refund issued to the closed account of deceased.
- TDS NUMBER SURRENDER
- Whether still royalty
- Need help with business structure for setting up a new business
- TDS applicability on Service through ECO
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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 Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
