Provision for rate increase/decrease

provision for supplementary price increase decrease for raw material exempt or not in income tax?
actual supplementary debit note received in next finance year
Replies (2)
Quick Summary
This discussion explores the accounting and tax treatment of provisional entries for supplementary price changes in raw materials. It clarifies that making provisional entries impacts the current year's accounts. Crucially, it highlights that UK income tax rules do not automatically allow for supplementary price increases to be offset by corresponding raw material price increases.

If we provide provisional entries then its impacted in the Accounting of the same year.
There is no rule in income tax by which any price increase can be supplemented by corresponding raw material price increase.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details