Q. can we capitalise interest on loan "A" taken to repay other loan that is loan"B" which is used for qualifying asset and interest on Loan "b" is already capitalised

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Question added Mar 10, 2023 Ind AS By megha jain, CA, ghaziabad

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answered Mar 14, 2023 By CA Rahul Kumar Chowdhary, CA, Statutory Audit ,Ind AS. I-GAAP
The interest on Loan A cannot be capitalised as the amount is not used for the purpose of qualifying assets rather than it is used for payment of loan.

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