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Accounting standard 7

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(Querist)
01 July 2013 whether AS-7 applicable to construction contractor only? or it is applicable to electrical contractor also.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
01 July 2013 No AS 7 is not applicable to the electrical contractors.
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However, in my view, where the electrical contractor is closely associated with a construction contract then in such a situation AS7 may be followed by the contractor.
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