TaxTMI 
TaxTMI 
TaxTMI 
WHEN CONSTRUCTION IS NOT COMPLETED AND ALSO SALE DEED MADE AND FOR SOME FLATS ITS PENDING THEN HOW VALUATION OF STOCK AS WIP OR FINISH GOODS CAN BE DONE? AND HOW REVENUE CAN RECOGNISE?
AND WHAT IF CONSTRUCTION IS COMPLETED IN ABOVE SITUATION??
VALUATION OF STOCK FOR BUILDERS
Guest
Valuation of stock for builders: classifying units as work in progress or finished goods affects timing of revenue recognition. Whether units with executed sale deeds but incomplete construction should be classified as work in progress or finished goods, and how revenue recognition should be timed, particularly if construction is later completed; the sole reply requests further factual clarification, offering no definitive treatment. (AI Summary)
