Valuation of closing stock

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 September 2012 my query is whether vat is includible while valuation of closing stock in the case where input credit is allowable and assessee is taking credit of vat

Guest

Guest (Expert)

12 September 2012 If input credit is taken then the purchase price will be reduced proportionately and so will the value of stock.

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