Inventory cost
Rahul kumar (Accountant) (141 Points)
03 May 2012
Is tcs paid is part of inventory cost as per 145A of incometax act.please explain
Rahul kumar (Accountant) (141 Points)
03 May 2012
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 04 May 2012
As you are debiting the whole expense to the P&L & paying the balance only to the supplier & tcs to teh govt, hence tcs would form part of the inventory cost.
"Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
