CBDT Update

The CBDT on 03rd May 2018 released the draft rule 11UA prescribing the manner of determination of Fair Market Value of inventory converted into Capital Asset. This was placed before stakeholders for their feedback & suggestions.

The CBDT vide Notification dtd. 30th August 2018 released the final Rule 11UA for computing the FMV of Inventory converted into Capital Asset. These shall come into effect from 01st April 2019 & accordingly shall apply in relation to AY 2019 – 2020 & subsequent years.

Click Here to read the notification.