Gold jewellery comes under which head in balance sheet

This query is : Resolved

Quick Summary

Gold jewellery is shown based on purpose. For personal or long term holding, it is treated as investment at cost. For business like jewelers, it is classified as stock in trade. Some may also show it as fixed asset depending on use.

Querist : Anonymous

Querist : Anonymous (Querist)

29 November 2016 Sir,

Gold jewellery comes under which head in balance sheet of itr 4

Thanks in Advance

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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29 November 2016 You have to consider Gold and jewellery under Fixed Asset at purchase cost.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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30 November 2016 Jewellery should be shown as investment at cost ( until there is a permanent decline in the cost).

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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03 October 2021 For Jewelers, having business of the gold jewelry, it will be under 'Stock in Trade.

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Gold jewellery comes under which head in balance sheet

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