Vehicle owned/rented purchased fuel for running vehicle used for marketing for business purpose....
Expense on fuel will treated in profit n loss account as a
fuel exp ???
travelling exp ???
4 Replies
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 20 June 2019
In my view it should be fuel expenses
Mitul Thakkar
(Partner Ashish Doshi and Associates)
(250 Points)
Replied 21 June 2019
Under the head 'power and fuel' expenses
KAMALESH KUMAR MITTAL
(GENERAL MANAGER FINANCE)
(40 Points)
Replied 02 January 2023
No, Diesel used for bikes , cars etc to be accounted under conveyance Expenses. Fuel expense is direct expense used for generator in factory or used for production purpose like Furnace oil to lit up fire etc.
Cars and bikes used for commuting from one place to other so conveyance.
This is my opinion, if some one differs please tell why it cannot be conveyance.
KAMALESH KUMAR MITTAL
(GENERAL MANAGER FINANCE)
(40 Points)
Replied 02 January 2023
Petrol used for bikes, there is no diesel for bike.
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