https://www.taxtmi.com/acts?id=20039 CAS-9 prescribes uniform rules for classification, measurement, assignment, presentation and disclosure of packing material cost. Packing materials are classified as primary (included in cost of production) and secondary (treated as distribution overheads), and by source (indigenous, imported, self manufactured). Receipts are valued at purchase price plus quantifiable procurement costs net of recoverable credits; imported items require specific treatment of duties, allocation of import charges and forex conversion at transaction date. Issues use consistent cost flow methods or standard costing; normal losses and scrap are included or netted, while abnormal costs, finance costs, demurrage and penalties are excluded. Assignment to cost objects should be by direct tracing where economically feasible or by rational allocation, with required disclosures in cost statements where material. en-us Fri, 11 Sep 2015 18:07:57 +0530 Fri, 11 Sep 2015 18:07:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20039 CAS-9 prescribes uniform rules for classification, measurement, assignment, presentation and disclosure of packing material cost. Packing materials are classified as primary (included in cost of production) and secondary (treated as distribution overheads), and by source (indigenous, imported, self manufactured). Receipts are valued at purchase price plus quantifiable procurement costs net of recoverable credits; imported items require specific treatment of duties, allocation of import charges and forex conversion at transaction date. Issues use consistent cost flow methods or standard costing; normal losses and scrap are included or netted, while abnormal costs, finance costs, demurrage and penalties are excluded. Assignment to cost objects should be by direct tracing where economically feasible or by rational allocation, with required disclosures in cost statements where material. Act-Rules Companies Law Fri, 11 Sep 2015 18:07:57 +0530 https://www.taxtmi.com/acts?id=20039