Book stock vs physical stock
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 April 2016
DEAR SIR./MADAM
AS ON 31.3.2016 PHYSICAL STOCK (PSV) OF GROUND IS 990000 MT WHILE IN THE BOOKS (RG) STOCK WAS 100000 MT THE DIFFERENCE OF 10000 MT BETWEEN PHYSICAL STOCK AND RG , HOW IT IS TREAT . PYSICAL STOCK TAKEN ON L*B*H= V*DENSITY BASIS , STOCK IN HUGE QUANTITY . NOT TO MEASABLE ON ACCURATE BASIS.
IN RG MAINTAIN
OPENING STOCK + PRODUCTION -DESPATCHES-INTERNAL CONSUMTION =CLOSING
NOTE : DAILY PRODUCTION DECLARE ON MATERIAL SHIFTED FROM PRODUCTION DEPARTMENT TO SALEABLE DEPARTMENT (READY TO DESPATCH) ON ACTUAL BASIS.
AT THE TIME OF PSV WE WILL TAKE STOCK SALEABLE DEPARTMENT (READY TO DESPATCH SECTION)
SUPPOSE, IN RETURN OF ER-1 SHOWING CLOSING STOCK 100000 MT
AND NEXT YEAR WE WILL TAKE OPENING STOCK OF 1.4.2016 IS 990000 MT
10000 MT FOUND SHORTAGES DURING THE PSV
THIS TREATMENT IS OK OR NOT OR OTHERWISE WHICH TREATMENT REQUIRED
PLEASE ADVISE US
DEAR SIR./MADAM
AS ON 31.3.2016 PHYSICAL STOCK (PSV) OF GROUND IS 990000 MT WHILE IN THE BOOKS (RG) STOCK WAS 100000 MT THE DIFFERENCE OF 10000 MT BETWEEN PHYSICAL STOCK AND RG , HOW IT IS TREAT . PYSICAL STOCK TAKEN ON L*B*H= V*DENSITY BASIS , STOCK IN HUGE QUANTITY . NOT TO MEASABLE ON ACCURATE BASIS.
IN RG MAINTAIN
OPENING STOCK + PRODUCTION -DESPATCHES-INTERNAL CONSUMTION =CLOSING
NOTE : DAILY PRODUCTION DECLARE ON MATERIAL SHIFTED FROM PRODUCTION DEPARTMENT TO SALEABLE DEPARTMENT (READY TO DESPATCH) ON ACTUAL BASIS.
AT THE TIME OF PSV WE WILL TAKE STOCK SALEABLE DEPARTMENT (READY TO DESPATCH SECTION)
SUPPOSE, IN RETURN OF ER-1 SHOWING CLOSING STOCK 100000 MT
AND NEXT YEAR WE WILL TAKE OPENING STOCK OF 1.4.2016 IS 990000 MT
10000 MT FOUND SHORTAGES DURING THE PSV
THIS TREATMENT IS OK OR NOT OR OTHERWISE WHICH TREATMENT REQUIRED
PLEASE ADVISE US
12 April 2016
no, that is not the correct way to deal with. When physical stock is more, you need to check if any purchase is NOT entered. After due investigation, if the same can NOT be traced out, you need to go by Physical Stock.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- Regarding appeal to GSTAT
- Multiple trade mark
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Invoice V/S Goods receipt Note Date
- ITR U for F.Y-2024-2025 From Yesterday
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
