please tell the reason why As 2 is not applicable to
livestock, agricultural products, minerals, ores and
wip of service providers
6 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 03 May 2021
In case of livestock, agricultural products, minerals etc. IndAs 41 will be applicable
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 03 May 2021
AS2 is not applicable on WIP for service providers
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 03 May 2021
I think because a specific standard is set in respect of the same (AS9: Revenue recognition in respect of services)
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 10 May 2021
For service providers revenue will be recognised under AS 9 or IndAs 115
Recent Topics
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
Related Threads
CAclubindia
