Maintain Stock Register
Jaiminder Singh Dhillon (CA) (99 Points)
03 October 2021
What are the legal provisions that makes it compulsary to maintain Stock Register?
2 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 03 October 2021
Stock register is there for every software.
AS 2 guidelines are used. However, input, WIP, cos and finished goods are recorded
measures to maintain and verify stock is given in auditing.
https://www.mca.gov.in/Ministry/pdf/CompaniesAct2013.pdf
Point 128 will give you the legal provision of the companies act. I guess tax also has such provision if your u look carefully
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 03 October 2021
Forgot to mention, your costing books have those provisions to create a stock ledger. Cost GAAP is legal. If you can’t find it in a particular ca text book, look for cost accountants of India books.
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