Gross Block Vs Net Block
Gross Block refers to the total value of a company’s fixed assets, including the cost of acquiring, constructing, or developing them, and any capital expenditures made to improve or maintain them.
Net Block is the Gross Block minus accumulated depreciation. Depreciation is the reduction in value of a fixed asset over time. By deducting accumulated depreciation from the Gross Block, we arrive at the Net Block, which represents the remaining value of the fixed assets.
Net Block = Gross Block – Depreciation
Depreciation schedule Format as per Company Act, 2013