Raj (Article) (72 Points)
02 February 2009Hi. I wanted to know how Tea Gardens and othe agricultural companies value their stock. For example how is the cost of stock of Tea Leaf determined? The NRV is definitely the market price of the Tea leaf of that grade and quality. But how is cost determined?
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 28 March 2009
all the cost attributable to it are aggregated
benjonson
(manager)
(30 Points)
Replied 19 April 2009
Real property is reappraised by the assessor's office every odd numbered year. The value determined by the assessor for the year of reappraisal is generally used for the intervening year also. The actual value of real property is based on its value as of the appraisal date that is June 30 of the year prior to the reappraisal year. June 30, 2008 is the appraisal date for valuation for tax years 2009 and 2010.
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benjonson
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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