Menu
Materials for contract
Dear Sir,
Vatable Material Purchased for contruction of bus stop, bhavan etc. by Local authority, Can we show material remains at the end of year as Current asset or included in profit and loss account. As materials are consumed in project construction.
Replies (1)
show it as current assets... if material is consumed in another project then well and good, otherwise scrap sale of such material can be shown as income in profit and loss account.
Recent Threads
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
- A Restaurant registered under the Composition Sche
- GST RATE OF OUT DOOR CATERING
- Non resident taxation & income tax in India
- GST Rate for oral Hygiene Combo Pack
- GST registration - Address error
- TDS on property pu
- Import of goods IMS action related
Related Threads
CAclubindia
