Valuation of closing stock
Querist : Anonymous
whether vat is includable in valuation of closing stock? plz clrfy my doubt
Querist : Anonymous
But Sec 145A of income tax saying , while calculating value of purchases, sales and inventories we should consider the any tax paid .
Plz let me know.
Taxes like Octroi and local taxes will be the part closing Stock..
Querist : Anonymous
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