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Confusion in rtp nov'12

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still a learner....
938 Points Posted on 16 October 2012

in SOLLUTION GIVEN BY ICAI OF  Q. N 18 of   of value added statement  (RTP NOV'12)... excise duty is not considered in

cost of bought in material... rather it is shown in govt payments..... is it right???

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On 16 October 2012 at 16:38 Report
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CA CMA DISA(ICAI) B.COM
3956 Points Posted on 16 October 2012

Yes, you can follow either of approach

1 Reply
On 16 October 2012 at 18:18
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CA FINAL
188 Points Posted on 16 October 2012

Note must be written for the same.............

1 Reply
On 16 October 2012 at 18:23
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ARTICLE
317 Points Posted on 16 October 2012

me to had similar prob so i had mail praveen sharma sir mail nd reply are as under;:

hii sir 

sir can u pls mail me the correct sol of rtp q 18 (value added statement)...
sir i had following problem in that ques or rather contrast with rtp ans
 
 ED treatment -not as per our class assumption
application statement is made only for 4 people (why not 6)
loss on sale of fixed asset -why not treated as extraordinary item in VAS

reply

 

Dear Student

Here the treatment of Excise duty is not correct you should follow the concept provided in the class. If there information related to any party out of 6 parties not available then you have option to leave it.
 
Sale of old fixed assets is not extraordinary since we have already separeted depreciation amount every year and we know that the fixed assets will be scraped after a certain period.
 
Regards
ETEN CA
Academic Team

 

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On 16 October 2012 at 19:52
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ARTICLE
317 Points Posted on 25 October 2012
in acc rtp q 16 360000 should be 320000???????????
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On 25 October 2012 at 22:22

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