Purchases of Stock in Trade as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Stock-in-trade refers to goods purchased normally with the intention to resell or trade in.

 In case, any semi-finished goods/materials are purchased with an intention of doing further processing activities on the same, the same should be included in ‘cost of materials consumed’ rather than under this item.

Priyansh Minocha

Priyansh Minocha is C.E.O and Director at Amonest India Private Limited and Founder at Casolutionsglobal

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