Write-off stock as per as 2

AS 951 views 1 replies

If stocks belong under detoriate condition , assessee wants to write off such stock in current financial year. Assessee having paper merchant business also going to cease such business in current year . Is it feasible to  show nil figure of stock balance  according to AS 2  in P&L A/c  ? NRV from such stocks wear found to be nil.

Replies (1)

Yes stock can be written off..


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