Valuation of closing stock
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 September 2012
my query is whether vat is includible while valuation of closing stock in the case where input credit is allowable and assessee is taking credit of vat
Guest
Guest
(Expert)
12 September 2012
If input credit is taken then the purchase price will be reduced proportionately and so will the value of stock.
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