closing stock

vandana0108 (Accountant) (57 Points)

09 July 2017  
other than ITC what impact will be on closing stock. to be more precise will a dealer be able to sell stock older then 12 months. secondly, it is a normal practice to show stock less then actual in books to mainatin profit at lower rate , now will this result in loss to the dealers.is it a correct interpretation that stock which is not uploaded on portal cannot be sold