Inventory cost
Rahul kumar (Accountant) (141 Points)
03 May 2012
Is tcs paid is part of inventory cost as per 145A of incometax act.please explain
2 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 04 May 2012
As you are debiting the whole expense to the P&L & paying the balance only to the supplier & tcs to teh govt, hence tcs would form part of the inventory cost.
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