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Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2011 we are a manufacturing co of bitumen.i want to get the details of valuing closing stock of raw materials and finished good.basically i want to get the excise element treatment for my stocks..plase explain in detail.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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21 July 2011 It depends how you are or being accounting your stock in trade. For accounting purpose you have to add E.D while calculating stock in trade. This is also requirement of section 145A of the Income Tax Act

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