Closing Stock of Gift Items in Balance Sheet

This discussion explores the correct placement of closing stock for gift items, such as promotional pens and pads, on a balance sheet. While there isn't a specific disclosure under Schedule VI, it's suggested to create a separate ledger under closing stock and include a note in the accounts. The consensus is that closing stock, being part of the P&L offset against purchases, doesn't typically fall under fixed assets, current assets, or indirect expenses.