if a company have huge stock of stationery and consumables how it is treated in books of company and does it is recorded as assets if yes under which head of assets?
note - this stationery and consumables are not held for sale
Menu
Stationery/consumables stock
Replies (3)
I think if you are using it for office use then you booked it as an expense & once you booked it as an expense it will not carry forward for next year .
What if the stock of stationery is of huge value?
Till date I really have never heard that it can be fix the life of books or registers or pen pencils either if it is not your business
Recent Threads
- Exemptions under New Tax Regime
- ITR-2 Payment Made but Status Not Updated
- Need help for ITR filing
- ITR Updated returns. Time limit for filing
- ITR 2 Processed and Refund Credited to Bank
- Freelancer or Salaried
- LTCG Tax and Indexation on Debt Mutual Funds Sold
- Section 45(5A) and 194IC with carry forward of tds
- Paid tax amount, CIN generated and challan downloa
- INTRADAY INCOME PRESUMPTIVE INCOME
Related Threads
CAclubindia
