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Is inventory and stock is same thing

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(Querist)
02 October 2023 is inventory and stock is same thing according to schedule III.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 October 2023 Yes, it's the same thing.

In summary, stock is the supply of finished goods available for sale, and inventory includes both finished goods and components that create a finished product. In other words, all stock is inventory, but not all inventory is stock.

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