please help??
This query is : Resolved
Gurdeep Singh
(Querist)
15 April 2009
what will be the valuation of stock in case of I st point mrp tax on medical products??
Deepak Goel
(Expert)
15 April 2009
As per the Income Tax Law cost price or market price which ever is less.
Gurdeep Singh
(Querist)
16 April 2009
tax part is to be included in the cost of medical products as purchase is inclusive of tax and sales as well..??
CA Nitin Wadhwani
(Expert)
16 April 2009
No.
That's only for VAT purpose not for valuation of stock.
That's only for VAT purpose not for valuation of stock.
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