Upvat query: related to damaged stock. what should one do with non-saleable stock?

Querist : Anonymous (Querist) 28 August 2011 This query is : Resolved
i have a query on UPVAT. what should one do about damaged products? example: u purchase 1000 CFL lamps. now after a few days u discover the 20 CFLs are broken (considering CFLs don't have any replacement for breakage nor any Credit Note is provided for the same) what will u do? is there any column or head in UPVAT where one can declare such losses and damages?? or one should keep carrying the damaged product as saleable item in the account books for ever? In the income tax one can show this as loss but he can't due to VAT otherwise annual stock closed on 31st march will be different in Income Tax and UPVAT.

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prabhakar singh (Expert) 28 August 2011
look for answer on caclub there tax people are nore comparing here.

Raj Kumar Makkad (Expert) 28 August 2011
I do agree with prbhakar singh.

girish shringi (Expert) 28 August 2011
One query many questions.
1st If company is not replacing the same can sue in consumer forum.It is the case of improper packaging.
2nd.When you have not sold the material,no need to show it as a sale can show it damaged stock/dead stock.
3rd.Pass JV of profit & Loss a/c to goods damaged or defective materials a/cs.

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