can we treat stock(net) i.e change of closing stock-oening stock in case of preparing monthly profit& loss? or we just hide the stock treatment.plz guide me.
M.Sriram Shenoy
(CA Final)
(814 Points)
Replied 13 June 2013
In my opinion, Opening and Closing stock should be considered in preparing monthly P&L as the movement in them will impact profit or loss.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)