icds
This query is : Resolved
Vijay Mohan
(Querist)
23 October 2017
ICDS AND TAX AUDIT. stock particulars may not be possible in some businesses. what to do.since number of varieties are msintained
CA Ysil Karunai
(Expert)
23 October 2017
Particulars of stock details are numerous is not a sufficient reason. Assessee has to maintain proper records of stock, methods of valuation, cost formulae etc., Since, stock is a material item for many business.
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