https://www.taxtmi.com/acts?id=20020 The standard mandates uniform principles for measurement and assignment of the cost of utilities, treating each utility as a distinct cost object. Purchased utilities are measured at purchase cost including attributable procurement expenses net of refundable items. Self generated utilities include direct material, direct employee cost, direct expenses and factory overheads, with distribution, administrative and marketing overheads added where applicable. Finance and imputed costs, penalties and damages are excluded; subsidies or recoveries are deducted. Allocation should be traceable and, where not directly traceable, based on usage parameters. Material abnormal costs are excluded from utility cost. en-us Fri, 11 Sep 2015 17:44:39 +0530 Fri, 11 Sep 2015 17:46:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20020 The standard mandates uniform principles for measurement and assignment of the cost of utilities, treating each utility as a distinct cost object. Purchased utilities are measured at purchase cost including attributable procurement expenses net of refundable items. Self generated utilities include direct material, direct employee cost, direct expenses and factory overheads, with distribution, administrative and marketing overheads added where applicable. Finance and imputed costs, penalties and damages are excluded; subsidies or recoveries are deducted. Allocation should be traceable and, where not directly traceable, based on usage parameters. Material abnormal costs are excluded from utility cost. Act-Rules Companies Law Fri, 11 Sep 2015 17:44:39 +0530 https://www.taxtmi.com/acts?id=20020