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Is as 2 is applicable????

This query is : Resolved 

Hello sir....
Last year my friend went to NPCIL for audit...
Whatever NPCIL purchases they are just paying hiring charges for this... (they purchase from the ministry of defence)
Now whatever Byproduct comes from that manufacturing... they are giving to ministry of defence...
Now my question is what rate they should charge???
Is AS-2 is applicable on this....????
If not then what is applicable..??
Show me how to value this...
Thanking you....

Ur question is not clear. Please elaborate clearly

AS 2 stock valuation will apply for both final product or by products

But sir hiring charges doesnt comes under the definition of asset.....
then also AS 2 apply???

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