Para 10.11 — GOODS_MANUAL

1. If the realised price is more than the book value, the sale proceeds should first be applied towards the ‘head of account’ in which the book value is lying, and the remaining portion should be treated as “profit on the sale of a capital asset;” 2. If the realised price is less than the book value, it should be apportioned in the ratio of the reserve price of the equipment and that of the spares. In this case, the CA’s sanction to write off the difference between the book value and the realised price would be necessary.

10.11. Procedure for Adjustment of Sale Proceeds in the Books of Accounts The following procedure may be followed for adjustment of sale proceeds in the books of accounts:

Manual for Procurement of Goods, Second Edition, 2024