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(Querist)
25 February 2012 Sir,

WE ARE HAVING STOCK OF COMPUTER PARTS RS.100000/-(APROX)SINCE 2005 WHICH IS TOTALY ABSOLETE.

I HAD ASKED MY COMPANY CA TO W/OFF AS THESE STOCKS ARE OUTDATED AND SIMPLY LYING IN OUR ACCOUNTS WHICH HE IS RELUCTANT TO DO SO.

DO WE HAVE TO PAY VAT ON SCRAP ITEMS.
I WANT TO KNOW HOW TO ADJUST THESE STOCK.

THANKS & REGARDS.
pDANDEKAR
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
25 February 2012 no you need not pay to vat on this stock.
It is good to remain this stock into your book of account. it mean depreciation will be claimed.
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