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
Austin Med Solutions Pvt Ltd
Bengaluru
CA
View Details
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
Bharat Shah & Associates
Mumbai
CA Inter
View Details
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
