ACCOUNTING TEATMENT FOR DETACTION OF STOCK VARIANCE BY GST DEPARTMENT

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....CCOUNTING TEATMENT FOR DETACTION OF STOCK VARIANCE BY GST DEPARTMENT<br> Query (Issue) Started By: - CABIJENDERKUMAR BANSAL Dated:- 2-8-2021 Last Reply Date:- 3-8-2021 Accounting - Auditing<br>Got 1 R....

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....eply<br>Companies Law<br>hello, there was search and seizure by GST department for XYZ limited premises. they found physical inventory is not matched with books inventory. physical stock was less the....

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....n books inventory by &#8377; 3 crore and they raised demand for GST , interest , penalty . assesses accept it and paid all dues as per demand. now query is what is accounting treatment in the books o....

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....f XYZ ltd for stock to be decrease by &#8377; 3 crore. now Reply By Atul Mehrotra: The Reply: Sir, in my opinion, stock will have to be revalued by posting an entry in the general ledger. Stock r....

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....evaluation A/c Dr. To Stock of RM/ FG/ WIP This revaluation A/c will be charged to the Statement of P&L as expense.<br> Discussion Forum - Knowledge Sharing ....