Inventories valuation
This query is : Resolved
05 September 2017
PL. PROVIDE THE PROCEDURE OF VALUATION OF INVENTORIES AS PER INCOME TAX ICDS
AS PER MY OPINION COST OF INVENTORIES INCLUDE COST OF MATERIAL + CENTRAL DUTY+CENTRAL TAXES.
LOCAL VAT ETC. NOT INCLUDED IN COST OF INVENTORIES
PL. SUGGEST ME
AS PER MY OPINION COST OF INVENTORIES INCLUDE COST OF MATERIAL + CENTRAL DUTY+CENTRAL TAXES.
LOCAL VAT ETC. NOT INCLUDED IN COST OF INVENTORIES
PL. SUGGEST ME
06 September 2017
ICDS also provide the same method as AS2 for valuation of inventory
06 September 2017
cost or market whichever is low.....
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