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    This document is a memo from the Corporate Accounts Section of Bharat Sanchar Nigam Limited (BSNL) Punjab Circle to all heads of Subscriber Service Areas/Units in Punjab Circle regarding monitoring of capitalization of borrowing costs and overhead charges. It notes that borrowing costs and overhead charges are not being properly capitalized according to BSNL guidelines. It provides details of the borrowing costs allocated to Punjab Circle for the half year and instructs heads to ensure borrowing costs are capitalized against qualifying assets by Wednesday, October 12th to ensure timely half yearly account closures.

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    This document is a memo from the Corporate Accounts Section of Bharat Sanchar Nigam Limited (BSNL) Punjab Circle to all heads of Subscriber Service Areas/Units in Punjab Circle regarding monitoring of capitalization of borrowing costs and overhead charges. It notes that borrowing costs and overhead charges are not being properly capitalized according to BSNL guidelines. It provides details of the borrowing costs allocated to Punjab Circle for the half year and instructs heads to ensure borrowing costs are capitalized against qualifying assets by Wednesday, October 12th to ensure timely half yearly account closures.

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    © All Rights Reserved
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    25 views1 page

    Img 20201012 0001

    Uploaded by

    Gmt Hsp
    This document is a memo from the Corporate Accounts Section of Bharat Sanchar Nigam Limited (BSNL) Punjab Circle to all heads of Subscriber Service Areas/Units in Punjab Circle regarding monitoring of capitalization of borrowing costs and overhead charges. It notes that borrowing costs and overhead charges are not being properly capitalized according to BSNL guidelines. It provides details of the borrowing costs allocated to Punjab Circle for the half year and instructs heads to ensure borrowing costs are capitalized against qualifying assets by Wednesday, October 12th to ensure timely half yearly account closures.

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    of 1

    CORPORATE AECOU NTS SECTION,

    O/o CGMT, PUNJAB CIRCLE,


    Sanchar Sadan,
    Plot No. 2, Sector 34-A,
    #.* **
    Chandigarh-160022 BHARAT SANCHAR NIGAM LIMITED
    P h one/Fax'.01.7 2-2600288
    (A Government of lndia Enterprise)

    URGENT
    To
    All Heads of SSAs/Units
    Punjab Circle.

    N o.CA-l/PB/BSN L/G en l/2 020-2L/ t7 Dated: 12.t0.2020.

    Sub: Monitoring of Capitalisation (Borrgwine Cost and Overhead Charees).


    Ref :-
    t. -Corporate office letter no. 500-31/2015-16/CA-I/BSNL/Al/30 2 DL Ig.O7.2017 (Cirlcular No. 365)
    2. Corporate office letter no. 500-31/1-4/-15lCA-l/BSNL/Al/302 DT. 28.09.2017 (Cirlcular No. 365C)
    3. 8692/85NLCO-CA/27 /2/2020-CA-ERP-FICO DT.05 .10.2020 (Rates of Capitalisaiton of BC)

    While monitoring the capitalisation of Fixed Assets, it has come to the notice that borrowing
    cost and overhead charges are not being capitalised. ln this regard, it is brought to your kind notice that
    the overhead capitalisation rate of BSNL as a whole is 12 to t3%. So, Punjab Circle should capitalise the
    overhead charges on realistic basis within this range.

    Further as regards to borrowing cost, Punjab Circle has received Rs. 41,64,19,9881- as its share
    of borrowing cost for the half year ended 30.09.2020. Whereas, the capitalisation of Borrowing Cost as
    on date is NlL. lt seems that borrowing cost is not being capitalised against qualifying assets. The total
    CWIP capital'$sed since 1't of April 2O2Oto 30'h September 2020 as per Trial Balance is Rs.4.20/- Crores.

    You are therefore, requested to kindly look into the matter and arrange to issue instruction to
    the concerned staff to take action as per instructions issued vide Circular No. 365 & 365(C) and letters
    under reference immediately and not later than the noon of Wednesday i.e. L2.10.2020 so that half
    yearly accounts closure may be ensured in time.

    This issues with the approval of CGMT Punjab Circle.

    chierAccou *--^,
    d! o/o CGMT, PUNJAB CIRCLE
    CHANDIGARH

    c'i

    Regd. And Corporate office : Bharat Sanchar Bhawan, Hari'sh Chandra Mathur Lane, Janpath, New Delhi- 110 OO1
    CIN : U74899D12000GO1107739

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