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Stock valution (Audit)

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This query is : Resolved


( Author )
27 May 2012

 sir;
How we do the stock valution of a big jeweller house in tax audit


Mukesh Goyal

( Expert )
27 May 2012

 Hi Mr Dixit,

Pls see the AS -2 and the Audited balance Sheet, and accordingly you can see what methods are required ( in AS-2 ) and what methods are used ( in balance Sheet ).

generally cost or NRV whichever is lower is used for valuation of stock at FIFO Basis.


Thanks & Regards
CACS Mukesh Goyal
+91-99105-30973
MUKESHGOYAL29@GMAIL.com



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