Menu
Repairs and maintenance v/s fixed asset
There is only sleek difference in identifying a bil as FA or R&M. Please clarify the differences between the two and how to identify it?
Replies (2)
An Expense Shall only be capitalised if it :
1.Increases production capacity or
2.Reduces cost of Production.
All the other expense should be charged as expense.
if repair & maintenence increase capacity of assest above than orignal capacity, it will be capitalised in fixed asset
Recent Threads
- Invoice related audit
- Gst input credit related
- Updated ITR as missed the dead line
- Change if place of business l
- Purchase from unregistered dealer garments busines
- TDS DEDUCTED BUT NOT PAID BY EMPLOYER
- GST RCM GTA
- TDS Challan interst amount wrongly paid as surchar
- Query on TDS & Stamp Duty
- Query on form 26QB and TDS deduction
Related Threads
CAclubindia
