My grammar is 💯 good I
7296 Points
Joined March 2019
I finally found the standard for this after scanning:
expenditure on start-up activities (ie start-up costs), unless this expenditure is included in the cost of an item of property, plant and equipment in accordance with Ind AS 16. Start-up costs may consist of establishment costs such as legal and secretarial costs incurred in establishing a legal entity, expenditure to open a new facility or business (ie pre-opening costs) or expenditures for starting new operations or launching new products or processes (ie pre-operating costs).
https://www.mca.gov.in/Ministry/pdf/IndAS38_2019.pdf
I was under the wrong and old concept that start up costs are capitalised. This is new for me as well,