Fixed assets purchase with vat, custom & freigt

murali nellore (accountant) (64 Points)

07 July 2014  

Hi Sir,

 

please give a solution for below transaction.

 

company has purchase fixed assets with VAT, Customs Duty & Frieght charges, so please guide me how to account this in books, my doubt is we have to show the Customs Duty & frieght charges in P&L or Total Invoice value has take it as a fixed assets?

Murali 

accountant