Capitalizing bank charges

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CA. CS.
62 Points Joined June 2009

Dear all,

Accounting standard allows capitalisation of bank charges directly attributable to FA. However, Is there any notification by mca or by clb that prevents capitalisation of bank charges or lc charges incurred for acquiring fixed assets?

Please help guys!

thanks a ton!

nikhil

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On 05 October 2012 at 14:16 Report
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Kolkata-Pune-Mumbai
27349 Points Joined October 2007

AS - 10 Says That Any Cost Attributable to Acquire That Fixed Asset, Should be Capitalized.

Kindly Refr AS - 16 Also.

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On 05 October 2012 at 14:22


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