Valuation of inventory as per icds ii

Pankaj Ghiya and Associates (Practising Chartered Accountant)   (1 Points)

10 June 2017  

IS THERE ANY ADDITION OF VAT AND EXCISE DUTY IN THE VALUATION OF CLOSING STOCK AS PER ICDS EVEN IF WE HAVE CREDIT FOR THE SAME AND IF NOT WHAT IS THE CRETERIA TO FOLLOW.

I AM HAVING CONFUSION OF ADDITION OF VAT PAID ON PURCHASE OF STOCK ADDITION OF IT IN THE VALUE OF CLOSING STOCK.