Major changes in ICDS relating to inventories, contract revenues, forex & securities

Oct 01,2016

Important changes in the revised text of Income Computation and Disclosure Standard (ICDS) released by the CBDT, applicable from AY 2017-18 include introduction of Standard costing in ICDS 2 relating to inventory valuation; Further, pre-April 1, 2016 construction contracts contract accounting now permissible as per earlier method of accounting;  Also, co...

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