banner_ad

How to do the stock valuation of a jeweller authentically

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 May 2012 hi;
how to do the stock valuation of a jeweller during tax audit
Profile Image

CA. RICHI SAXENA

Profile Image

CA. RICHI SAXENA (Expert)
26 May 2012 AS 2 has been formulated by the Institute of Chartered Accountants of India after giving due consideration to the relevant International Accounting Standard in light of the conditions and practices prevailing in India. Para 30 of AS 2 recommends that where base stock method is used, the difference between the value at which it is carried and the value by applying the method at which stock in excess of the base stock is valued, should be disclosed. If base stock method is used for accounting purposes, the disclosure should be made in accordance with para 30 of AS 2 since it represents a good accounting practice to be followed by all types of entities.

please check the link below for detailed committee view regarding such valuation.

https://220.227.161.86/eac/eacfinal/vol10/2/5.htm

CA.Richi Saxena
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details