If provision for excise duty is made on finished goods in book of accounts.Whether it is necessary to provide deffered tax on that amont or not.
Anshul Shukla (Article assistant) (63 Points)
14 July 2011If provision for excise duty is made on finished goods in book of accounts.Whether it is necessary to provide deffered tax on that amont or not.
Priyanka Bhatnagar
(Accounts & Finance)
(44 Points)
Replied 27 July 2011
Deferred tax need not be provided for, as there is no timing difference. Please let me know if you understand otherwise
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