Closing stock of excisable goods can be valued u/s.4a excise
This query is : Resolved
26 December 2013
Is closing stock of excisable goods can be valued under section 4A of excise act 1944 insted of accounting standard 2(AS-2)?
02 January 2014
For the purpose of books of accounts and financial statements closing stock has to be valued as per AS-2.
For computing provision for excise duty to be shown in the financial statements, closing stock will be valued as per Central Excise Act read with valuation rules.
For computing provision for excise duty to be shown in the financial statements, closing stock will be valued as per Central Excise Act read with valuation rules.
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