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AS - 7

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(Querist)
17 April 2010 Can Sale of material to sub-contractor be disclosed as Sale of material or should it be adjusted against consumption of raw materials in the regular course of business?
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
17 April 2010 I think it sdhould be adjusted against consumption of raw materials in the regular course of business
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CA. Ashish Bihani

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CA. Ashish Bihani (Expert)
17 April 2010 Agree with expert...
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CA Rushabh Gandhi

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CA Rushabh Gandhi (Querist)
17 April 2010 AS 7 mentions specifically excess material sold can be adjusted against consumption of material. Is it ok if regularly material is sold to sub-contractor and he bills to party alongwith his labour charges and cost of material.
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CA Rushabh Gandhi

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CA Rushabh Gandhi (Querist)
17 April 2010 AS 7 mentions specifically excess material sold can be adjusted against consumption of material. Is it ok if regularly material is sold to sub-contractor and he bills to party alongwith his labour charges and cost of material.
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shakuntala chhangani

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shakuntala chhangani (Expert)
17 April 2010 Then how could it be excess materials? It will partake the characteristic of goods in which the co. regularly deals.
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