CBDT relased Draft form 6C for inventory valuation report.

The Finance Act 2023 substituted section 142(2A) to empower the AO to appoint a cost accountant for the valuation of inventory. The cost accountant is required to submit the report in a prescribed format. To implement the amendment, the CBDT has released draft Form No. 6C that the cost accountant shall use to submit an inventory valuation report. Stakeholders are requested to send suggestions/comments on the draft form by August 31, 2023

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