Stock valution

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sudhanshu dixit

sudhanshu dixit (Querist)
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27 May 2012 sir;
How we do the stock valution of a big jeweller house in tax audit

Mukesh Goyal

Mukesh Goyal (Expert)
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27 May 2012 Hi Mr Dixit,

Pls see the AS -2 and the Audited balance Sheet, and accordingly you can see what methods are required ( in AS-2 ) and what methods are used ( in balance Sheet ).

generally cost or NRV whichever is lower is used for valuation of stock at FIFO Basis.

Thanks & Regards
CACS Mukesh Goyal
+91-99105-30973
MUKESHGOYAL29@GMAIL.com