Inventory
This query is : Resolved
21 August 2013
what entry to be passed for goods used for office purpose and not sold
CA UMESH DULAL
(Expert)
21 August 2013
treat as expenses
21 August 2013
if i enter so, would it effect inventory? i want inventory to be effected
CA UMESH DULAL
(Expert)
21 August 2013
yes
21 August 2013
will you please guide me regarding entris? so thst i can takeup the right path
CA UMESH DULAL
(Expert)
21 August 2013
plz provide the details
21 August 2013
i have got 3 boxes vch were used for experiments at office and not been sold..
21 August 2013
If it was used for research then
Reserach and dev exp a/c
To Stock( from Inventory held for sale if they were RM or FG etc.)
Reserach and dev exp a/c
To Stock( from Inventory held for sale if they were RM or FG etc.)
CA UMESH DULAL
(Expert)
21 August 2013
agree with mr. tushar
CA BHARATH KUMAR
(Expert)
22 August 2013
agree with Tushar
CA Kumar Mukesh
(Expert)
22 August 2013
Inventory used for the purpose of Self consumption required to be Capitalized/Treat as R&D Expenses.
Please note Further if Cenvat & VAT credit has been already taken on these inventories, Then it required be reversed
Please note Further if Cenvat & VAT credit has been already taken on these inventories, Then it required be reversed
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