Stock valution
This query is : Resolved
sudhanshu dixit
(Querist)
27 May 2012
sir;
How we do the stock valution of a big jeweller house in tax audit
How we do the stock valution of a big jeweller house in tax audit
Mukesh Goyal
(Expert)
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
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
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