Disallowance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2014
When purchases are disallowed by any reason say cash purchase, then how to value inventories, should inventory also exclude the cost?
Nikhil Kaushik
(Expert)
15 November 2014
there wont be any impact on the value of inventories...tax disallowance doesn't impact the accounts...you shall still carry the same inventory as was before disallowance.
Nikhil Kaushik
(Expert)
15 November 2014
there wont be any impact on the value of inventories...tax disallowance doesn't impact the accounts...you shall still carry the same inventory as was before disallowance.
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