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treatment of excise
how the entries to be passed, if closing stock is valued inclusive of excise and if valued exclusive of excise. basically i want to understand treatment from the angle of sec 145A.
Replies (1)
Dear Mr. Abhash,
This is a tough call,
there is a conflict between Income tax and Accounting standard -2 and guidance note on cenvat .
With no impact on profit at all..
please check the link below for more details
https://audityahrudhayam.blogspot.com/2007/12/sec145a-vs-as-2.html
thanx.
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