valuation of stock
This query is : Resolved
01 October 2009
what is the difference between valuation of stock as per AS-2 and section 145A of the income tax act 1961
05 October 2009
As per AS-2 it is the exclusive method,ie., without considering the duties paid for which you are going to claim a set off (e.g. excise and VAT paid on purchase cost of inventory). Whereas as per Sec. 145A of the IT Act, it is the inclusive method
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