why GST tax is not included in inventory valuation.?
Answers
Answer:
As per the said AS-2, the cost of purchases cannot include duties and the taxes which are subsequently recoverable from the taxing authorities. Hence the input tax which is refundable, should not be included in the cost of purchases. GST, to the extent it is refundable, will not form part of the cost of the inventory
Answer:
As per the said AS-2, the cost of purchases cannot include duties and the taxes which are subsequently recoverable from the taxing authorities. Hence the input tax which is refundable, should not be included in the cost of purchases. GST, to the extent it is refundable, will not form part of the cost of the inventory.
Answer:
As per the said AS-2, the cost of purchases cannot include duties and the taxes which are subsequently recoverable from the taxing authorities. Hence the input tax which is refundable, should not be included in the cost of purchases. GST, to the extent it is refundable, will not form part of the cost of the inventory.