A Consignment agent, books the stock transfer from the consigor as purchase and further sells that goods at the rate fixed by consignor , at year end he is still left with some stock whch is a part of stock transfer willl we include the stock left whith him in his trading closing stock to calculate this taxable profit? if yes please provide with supporting to your answer if possible
Thank you
Yes it must be included in closing stock at cost price and not at price at which u are u going to sell the goods
Abic and Mani Chartered Accountants
Kottayam
B.Com
View Details
ADY & CO.
New Delhi
Graduate (Any)
View Details
Arpan Bohra & Co
Hyderabad
CA Inter
View Details
CCI
Pro
CAclubindia
