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(Querist)
15 April 2009 what will be the valuation of stock in case of I st point mrp tax on medical products??
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Deepak Goel

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Deepak Goel (Expert)
15 April 2009 As per the Income Tax Law cost price or market price which ever is less.
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Gurdeep Singh

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Gurdeep Singh (Querist)
16 April 2009 tax part is to be included in the cost of medical products as purchase is inclusive of tax and sales as well..??
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
16 April 2009 No.
That's only for VAT purpose not for valuation of stock.

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