A company is manufacturing Machines. The company supplies purchased / Manufactured goods to customers as free samples for trial.
Whether ITC availed should be reversed ?
What is the basis of valuation for manufactured goods?
Anybody could help.
Whether ITC availed should be reversed ?
- Yes... ITC is reversible if supplies made as sample (if not billing)
What is the basis of valuation for manufactured goods?
- Just reverse the ITC of the raw materials which is used for the goods manufacturing.
CAclubindia
