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Articles by Manoj Pala

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Inventory write downs vis-a-vis Rule 3 (5b) of CCR

  Manoj Pala    03 August 2011 at 12:18

Inventories are measured at the lower of cost or net realizable value (NRV). If the NRV falls below the recognized costs pf an inventory item, the respective inventory items must be measured. Inventory write-downs should reflect the estimated loss i

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Posted in Excise  3 comments |   13947 Views


Rule 3 (5b) of Cenvat Credit Rules ... Post Budget 2011

  Manoj Pala    28 July 2011 at 12:46

Notwithstanding the technicality of the law viz: the point of discussion Provision for write of inventory, we opine that in the subject matter the spirit of the law in principle might prevails over the technicality of the law and which

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Posted in Excise  5 comments |   25176 Views