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(Querist)
08 July 2011 whether excise duty forms part of closing stock while valuation? and why.
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ABHISEK TOSNIWAL

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ABHISEK TOSNIWAL (Expert)
09 July 2011 Dear Sumit,

Yes excise duty forms part of closing stock as it has been specifically provided in the guidance note on Excise Duty.

Regards,
Abhisek Tosniwal

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