Repair of gyser capitalized
Roshni jaiswal (student) (51 Points)
28 January 2021
Is repair of gyser capitalized or not. Plz suggest.
3 Replies
Deepak Kumar
(791 Points)
Replied 28 January 2021
Is your choice you are capitalized then you have not claim ITC only claim Depreciation
Mohd Azhar Chiragh
(2 Points)
Replied 29 January 2021
Repairs are expenses incurred to maintain the working condition of the asset or to restore to its previous working condition, thereby adding no value over and above the asset's original utility.
hence, repairs should be expensed in Profit and Loss A/c.
hence, repairs should be expensed in Profit and Loss A/c.
Recent Topics
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
- Avoiding tax audit in case of intraday equity loss
Related Threads
CAclubindia
