Value added tax include in valuation of stock

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consultant
83 Points Joined September 2011

I want to know that value added tax charged on sale and paid on purchases is required to include in valuation of closing stock for the purpose of sec. 145A of I.T. act, 1961 ?

IF it yes, please give me exact provision or explanation in Act.

                                      OR

IF it is no, please give me case laws or explanation of clarificaion in the Act.

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On 23 June 2016 at 13:45 Report
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(Expert)
369 Points Joined February 2015
Go to this Link and you will find your answer... /articles/section-145a-of-the-income-tax-act-17421.asp
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On 23 June 2016 at 16:12
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consultant
83 Points Joined September 2011

I have already read this link but i want to know that value added tax levied by state is liable to include in valuing the inventory?

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On 25 June 2016 at 19:06


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