excise duty on finished goods
This query is : Resolved
05 October 2007
Dear Sir / Ma'am,
Wether excise duty payable on finished goods is included in the closing stock of finished goods.
Regards
Prachi
Wether excise duty payable on finished goods is included in the closing stock of finished goods.
Regards
Prachi
05 October 2007
As per Incometax act u/s 145A it is mandatory to include ED on finished goods.
05 October 2007
For better understanding of closing stock valuation as per IT & AS 2 from the following path download file, in our files portal.
https://www.caclubindia.com/files_display.asp?files_id=2293
https://www.caclubindia.com/files_display.asp?files_id=2293
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