https://www.taxtmi.com/forum/issue?id=1885 Form 16 under DVAT and VAT on closing stock require reliable inventory records to support valuation in returns. Dealers should maintain stock registers where practicable; if not feasible for numerous low-value items, perform a year-end physical count for each item. Adoption of an ABC inventory method is recommended so day-to-day registers are kept for high-value items while periodic verification covers lower-value items, ensuring a defensible basis for calculating VAT on closing stock and completing Form 16 disclosures. en-us Sat, 17 Apr 2010 18:34:12 +0530 Thu, 23 Jan 2025 15:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1885 Form 16 under DVAT and VAT on closing stock require reliable inventory records to support valuation in returns. Dealers should maintain stock registers where practicable; if not feasible for numerous low-value items, perform a year-end physical count for each item. Adoption of an ABC inventory method is recommended so day-to-day registers are kept for high-value items while periodic verification covers lower-value items, ensuring a defensible basis for calculating VAT on closing stock and completing Form 16 disclosures. Discussion-Forum VAT / Sales Tax Sat, 17 Apr 2010 18:34:12 +0530 https://www.taxtmi.com/forum/issue?id=1885