Whether interest paid on General borrowings will be as contract cost as per AS-7
General borrowings in AS-7
(Guest)
3 Replies
CA Rajesh Keshri
(CA)
(175 Points)
Replied 26 June 2011
Yes interest on general borrowing shall be treated as contract cost
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 26 June 2011
Only that part of int of borrowings should be Debited as a contract cost which is attrtibutable to contract since in ur q u said its genearl borrowing.
CA Rakesh Garg
(Asst. MGR Taxation)
(510 Points)
Replied 27 June 2011
| Originally posted by : TusharSSampatM.Com CA,CS-FINAL | ||
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Only that part of int of borrowings should be Debited as a contract cost which is attrtibutable to contract since in ur q u said its genearl borrowing. |
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