Provisions of Rule 3(5)(B) of CCR, 2004 not attracted in case of a general provision

Jaisawal Neco Industries Ltd Vs Principal Commissioner of Central Tax & Central Excise (CESTAT Delhi)

The issue involved in this appeal is whether the provisions of Rule 3(5)(B) of CCR, 2004 are attracted in case of making a general provision in the books of account for slow moving/non moving inventory, without reducing the value of such inventory.

In this case appellant have only created a general provision for slow/non-moving inventory and have admittedly not written of the inventory

Please become a Premium member. If you are already a Premium member, login here to access the full content.