Disallowance

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 November 2014 When purchases are disallowed by any reason say cash purchase, then how to value inventories, should inventory also exclude the cost?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 November 2014 there wont be any impact on the value of inventories...tax disallowance doesn't impact the accounts...you shall still carry the same inventory as was before disallowance.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

15 November 2014 there wont be any impact on the value of inventories...tax disallowance doesn't impact the accounts...you shall still carry the same inventory as was before disallowance.

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