New schedule vi - companies act
This query is : Resolved
15 June 2012
I am confused with 2 heads in statement of profit and loss... what is the difference b/w 2 heads namely cost of material consumed and Purchases of stock in trade.. In which head I have to show purchases in case of trading concerns..
15 June 2012
Show under "Purchases of Stock in trade"
The other one is applicable mostly for a entity in manufacturing or in similar activity.
The other one is applicable mostly for a entity in manufacturing or in similar activity.
16 June 2012
If it is the case of trading concern then the head " Cost of materail consumed" is not applicable to you. You will just have to show purchase of goods under "purchase of Stock in trade".
18 June 2012
Then where we have to show Opening stock, Direct expenses and closing stock?
18 June 2012
Direct expense will be booked under direct expense only and one more item will be there called " Increse/Decrease in Stock in trade".
both of them will be separate line items in P&L Statement.
both of them will be separate line items in P&L Statement.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Building and other construction workers welfare cess act 1996
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
