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Inventories valuation

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(Querist)
05 September 2017 PL. PROVIDE THE PROCEDURE OF VALUATION OF INVENTORIES AS PER INCOME TAX ICDS

AS PER MY OPINION COST OF INVENTORIES INCLUDE COST OF MATERIAL + CENTRAL DUTY+CENTRAL TAXES.
LOCAL VAT ETC. NOT INCLUDED IN COST OF INVENTORIES

PL. SUGGEST ME
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
06 September 2017 ICDS also provide the same method as AS2 for valuation of inventory
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 September 2017 cost or market whichever is low.....
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