Stock held by Consignment Agents, Income Tax

[JOHN SHANNEL]

We transfer goods on F Form to our Consignment Agents. Should we show the stock in Company's Closing Stock.

 

John Shannel

Posts / Replies

[Vivek anandhan]

Yes, You must show in closing stock.   When sales transacation not done it should be considered as a stock.

[Ram Chandra Khichar]


Mr. John Shannel whenever you sale goods against F Form, you cann't show in stock in your books because it's a kind of sale so your consignee againt show in stock in his books

[Ram Chandra Khichar]

We you are dispatch material to consignment againt against f form it mean these are your goods still againt does not sale of goods so it must be reflect in your books as closing stock