A dealer pays excise, freight, insurance, CST apart from the cost of the vehicles on lifting cars from the company. What will be the cost of sales for calculating the Gross Profit.
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Automobile dealer-cost of sales
Replies (1)
the dealer is most probably a first stage or second stage dealer for excise purposes.
excise duty is included in the value of stock.
freight and insurance will be includible as they are part of the cost to bring inventory to current place AS2.
cst would not form part of trading account
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