Vat on closing stock

Vks (28 Points)

30 May 2007

Hello friends

I want to know the effect of vat on closing stock. whether any material available on that.

Regards

Vkshah

Reply
Follow
Share

5 Replies

Jitender (Chartered Accountant) (8724 Points)
Replied 30 May 2007

u need to go through the guidence note issued by thw ICAI ON IT

saravanan (proprietor) (71 Points)
Replied 15 June 2007

VAT ON CLOSING STOCK AMOUNT TO BE CREDITED IN 01.01.2007 IN PURCHASE ACCOUNT ONLY. (FOR INPUT TAX PURPOSE)

Amit (ca student) (112 Points)
Replied 08 September 2007

The Vat treatment it may be already given at the time of purchase only. So the closing stock is already get affected.

ca rahul (professional) (58 Points)
Replied 17 September 2007

vat should not be included in closing stock. if your purchases is excluded vat

Amit Sureka (Finance Manager-India) (251 Points)
Replied 19 September 2007

Vat is already included in the stock.

Start a New Discussion

view all classess

Forum Home