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Inventory

This query is : Resolved 
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(Querist)
21 August 2013 what entry to be passed for goods used for office purpose and not sold
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
21 August 2013 treat as expenses
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kritika

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kritika (Querist)
21 August 2013 please answer me..
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kritika

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kritika (Querist)
21 August 2013 if i enter so, would it effect inventory? i want inventory to be effected
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
21 August 2013 yes
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kritika

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kritika (Querist)
21 August 2013 will you please guide me regarding entris? so thst i can takeup the right path
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
21 August 2013 plz provide the details
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kritika

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kritika (Querist)
21 August 2013 i have got 3 boxes vch were used for experiments at office and not been sold..
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
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.)
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
21 August 2013 agree with mr. tushar
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kritika

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kritika (Querist)
22 August 2013 thank you sir...
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
22 August 2013 agree with Tushar
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CA Kumar Mukesh

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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
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