Sample accounting
This query is : Resolved
Guest
Guest
(Querist)
12 March 2013
what is the Accounting treatment of goods received free of cost? is there any complication as per any law?
12 March 2013
Dear Rakhi,
even though the goods are received free, you need to record them in your stock.
you can either record them at zero value or say at a nominal value of Re. 1
- Ankit
even though the goods are received free, you need to record them in your stock.
you can either record them at zero value or say at a nominal value of Re. 1
- Ankit
Guest
Guest
(Querist)
12 March 2013
if we have exciseable good and send a free sample to a party then we should charge charge excise duty on it or not ?
12 March 2013
I think yes you have to..
you will have to refer to the valuation rules to calculate the value on whihc excise duty has to be paid.
I think the value has to be calculated as per Rule 4 of the valuation rules..
- Ankit
you will have to refer to the valuation rules to calculate the value on whihc excise duty has to be paid.
I think the value has to be calculated as per Rule 4 of the valuation rules..
- Ankit
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