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Treatment in books of accounts

This query is : Resolved 
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(Querist)
20 May 2013 Dear Members

A dealer engaged in fruits trading wishes to know how to account for fibre crates which are used for delivering the products to customers and are taken back empty from them.


Should they be treated as stock in trade or written off to profit and loss?

They can't be taken as FA since it is routing purchase for the said vendor.
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Guest

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Guest (Expert)
21 May 2013 They can not be treated as Stock in Trade, as the vendor is in practice to take them back after delivery.

But they can be shown under consumables.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
07 July 2013 Keep that under the head Packing Material in Stock and shall appear as stock after reduction in the value of damaged one.
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