While valuing closing stock of imported raw material can we take the exchange rate used for restating creditors
4 Replies
N V Ram
(Manager)
(272 Points)
Replied 30 July 2009
No my question was whether i can restate the stock in the same way as creditors, meaning i have valued the stock of imported item based on exchange rate on date of purchase, can i revalue this stock based on exchange rate on 31.03.09 given by bank
N V Ram
(Manager)
(272 Points)
Replied 30 July 2009
Can you confirm whether it is mentioned in AS-2?
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
