Hello friends
I want to know the effect of vat on closing stock. whether any material available on that.
Regards
Vkshah
5 Replies
Jitender
(Chartered Accountant)
(8724 Points)
Replied 30 May 2007
u need to go through the guidence note issued by thw ICAI ON IT
saravanan
(proprietor)
(71 Points)
Replied 15 June 2007
VAT ON CLOSING STOCK AMOUNT TO BE CREDITED IN 01.01.2007 IN PURCHASE ACCOUNT ONLY. (FOR INPUT TAX PURPOSE)
Amit
(ca student)
(112 Points)
Replied 08 September 2007
The Vat treatment it may be already given at the time of purchase only.
So the closing stock is already get affected.
ca rahul
(professional)
(58 Points)
Replied 17 September 2007
vat should not be included in closing stock. if your purchases is excluded vat
Amit Sureka
(Finance Manager-India)
(251 Points)
Replied 19 September 2007
Vat is already included in the stock.
Recent Topics
- Income Tax Return Filing Reg
- DRC 03 payment method
- GST Registration for Service Providers
- Tax for individual freelancing service providers
- LUT Number confusion! ARN or Reference Number
- Section 44ADA Query - 75 Lakh Limit Clarification
- GST on Rent RCM
- Clarification on GST Credit Note Rejection and Ret
- ITR filing as representative capacity
- Conversion of Inherited and Acquired Agricultural
Related Threads
CAclubindia
