Mahendra Patel
30 March 2022 at 11:22

Valuation of Stock ON YEAR END

Dear Sir,

We have manufacturing related to metal products (Single raw material ) and metal prices regularly up and down.
we generally valuation of our inventory on last month average price of our raw material.

We have a order of export @ 700 per kg , this material billed to customer on 700 per kg but due to unavoidable circumstances export order postponed to after 1 months in apr -22.

hence my inventory level up by this order and my last month average rate of raw material is 800/-
total inventory we have 50 M.Ton out of this 15 M.T stock related to export order.

so kindly guide us can we valuation of my export order stock on 700 per kg and for remaining stock on 800/- per kg

because if we are not doing this my profits will go very high.

kindly guide us thanking you .



sankar ponnan
29 March 2022 at 13:19

Audit Trail - Query

Sir / Mam
Audit Trail means what?
Is it Compulsory from 01-04-2022?

Plz explain me
Thanks in adv


Subramani V
29 March 2022 at 13:02

Revised Return Sec 115BAC

Can we file revised return for AY 2021-22 under new tax regime (115BAC) if the original return u/s 139(1) was filed under old tax regime


sowmya

Dear Sir,

Recently i joined to the new group of companies. Here 12 companies accounts are maintained.
But in all the companies Input GST kept under Direct Expenses and Output GST under Direct Income.
Actually Input and output both will come under Duties and Taxes.
which is the right way to maintain. here they telling as per CA requirements all are maintaining keep as it is.

Thanks in advance

Sowmya K S


Harikrishnan
29 March 2022 at 11:46

OLD VEHICLE SALE

During the VAT period we purchased a TATA ACE worth Rs. 4 lakhs and claimed input VAT. The vehicle has now been sold for Rs 1 lakh. How to prepare GST invoice


Suhasini Lad
29 March 2022 at 11:16

Incentive to employee

Dear All,

Incentives given to employee in cash or in kind should be included in which Account head, should it be included in salary of employee or should it be included in separate head i.e., Incentives to employees.

Thanking you



CA Parul Saxena
29 March 2022 at 09:53

Urgent query of E invoice

How to affix dsc of supplier to e invoice? Please reply it's urgent.


pavel

When is the due date of filling Income Tax Return for the financial year 2020-2021 ( A.Y.2021-2022). While filling return for F.Y.2020-2021 it's showing interest of rs.1,000.


Amandeep Singh
28 March 2022 at 21:49

Fixed deposit from saving Salary


20%
Dear Sir,

My annual income is less then basic limit So i never filed ITR but saving from salary Rs.70 k to 1 lac from 2013 also received some graudity and PF amount from my previous company. Can I face any issue from IT department if I make fixed deposit
From my savings approximately Rs.12 Lacs please suggest.





Deepak
28 March 2022 at 21:39

Hiring vehicles GTA

Want to know whether GST is applicable on providing hiring of vehicles or GTA.






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