ER-4 RETURN

[Neeraj Sharma]

Dear All,

Can you tell me in what quantity & value will come of Finished Goods in ER-4. Is as per ER-1 or Balance sheet notes on account? & what value for example assessable value or actual inventory value?

AI Summary

Clarification on Reporting Finished Goods in ER-4: Align with Purchase Invoices, Exclude Taxes, Detail Major Raw Materials. A user inquired about the appropriate quantity and value of finished goods to report in the ER-4 return, questioning whether it should align with ER-1 or balance sheet notes. The response clarified that, according to the ER-4 format, the total value of inputs, including packing materials and components with CENVAT credit, should be based on purchase invoices or import documents, excluding taxes. The value and quantity of major raw materials must be reported separately if they account for 10% or more of total raw material value. Sales value should be gross as per the Profit & Loss account, excluding taxes.