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excise duty on finished goods

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(Querist)
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
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Ravikumar.G

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Ravikumar.G (Expert)
05 October 2007 As per Incometax act u/s 145A it is mandatory to include ED on finished goods.
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Ravikumar.G

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Ravikumar.G (Expert)
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
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KAAPIL

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KAAPIL (Expert)
12 November 2007 Thanks.

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