hi frnds..
while making payment through credit card against purchase of machinery amount charged by credit card co. over and above bill amount of machinery (e.g. Service tax etc) will it be capitalised or not ? pls reply... it's urgent..
ROHIT (Articled Clerk) (29 Points)
25 January 2010hi frnds..
while making payment through credit card against purchase of machinery amount charged by credit card co. over and above bill amount of machinery (e.g. Service tax etc) will it be capitalised or not ? pls reply... it's urgent..
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 25 January 2010
Logically, such expenses are to be charge in P&l under BANK CHARGES EXPENSES....