https://www.taxtmi.com/news?id=14297 The standard for Tangible Fixed Assets prescribes recognition, measurement and measurement components: Actual Cost includes purchase price, import duties and directly attributable expenditures net of trade discounts and recoverable taxes; standby and servicing equipment must be capitalised; routine spares expensed on consumption except irregular use spares; non asset specific overheads excluded; startup and pre commercial expenses capitalised while post commercial expenses charged to revenue; self constructed assets follow same principles with elimination of internal profits; assets acquired in exchange measured at fair value. en-us Mon, 06 Apr 2015 15:40:09 +0530 Thu, 09 Apr 2015 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14297 The standard for Tangible Fixed Assets prescribes recognition, measurement and measurement components: Actual Cost includes purchase price, import duties and directly attributable expenditures net of trade discounts and recoverable taxes; standby and servicing equipment must be capitalised; routine spares expensed on consumption except irregular use spares; non asset specific overheads excluded; startup and pre commercial expenses capitalised while post commercial expenses charged to revenue; self constructed assets follow same principles with elimination of internal profits; assets acquired in exchange measured at fair value. News - Mon, 06 Apr 2015 15:40:09 +0530 https://www.taxtmi.com/news?id=14297