Capitalisation of bundled goods and services received
Ahanak (Article) (281 Points)
22 May 2024Ahanak (Article) (281 Points)
22 May 2024
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 23 May 2024
There are Two expenses 1) Renovation expenses of rented property 2) Purchase of Furniture ( Asset ) , so please Clarify , Renovation has been done using Furniture or both are different expenses .
sabyasachi mukherjee
(27574 Points)
Replied 23 May 2024
Ahanak
(Article)
(281 Points)
Replied 25 May 2024
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 27 May 2024
If both are different expenses then , you must have ask for for two different Invoices , one for expenses and another for Asset Purchase , then painting and renovation expenses will be Revenue Expenditure , and Furniture you can Capitalise . Only one Invoice for both different expenses will be problematical for Audit Purpose .
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