Valuation of Closing stock & Tax Audit
This query is : Resolved
27 January 2010
Hi Expert,
While determining the tax audit limit i.e. 40 laks whether excise duty payable, vat payable , service tax should be part of Sale if shown separately in Incoice?
Thanks in Advance..
Regards
Gaurav
While determining the tax audit limit i.e. 40 laks whether excise duty payable, vat payable , service tax should be part of Sale if shown separately in Incoice?
Thanks in Advance..
Regards
Gaurav
27 January 2010
If excise duty payable, vat payable , service tax payable shown separately in Incoice and accounted in seperate account payable and payment or credit of input adjusted against such account then for considering limit of turnover of 40 laks the above will not form part of turnover.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Presumptive income under 2025 ACT
- GST ON TRAVELLING BILLS
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
