Dear
Whether any minimum amount is kept in PLA current accounts
ca.ramakrishna
(Chartered Accountant)
(313 Points)
Replied 25 November 2008
hi ther is no minimum balance requirement.. only thing it should not be in negetive which means taking a credit which is not actually paid
sanjeev
(govt. Emloyee)
(565 Points)
Replied 26 November 2008
No minimum balance is required in PLA, on receipt and acceptance of exciseable inputs required for production of Final excisable output we can take credit on receipt basis.But there should not be Negative balance in RG 23A part11.
Ram kr.
(Buisness)
(883 Points)
Replied 26 November 2008
There is no need to maintain minimum balance in pla account but you should take care your availabe balance. it should not be lower then duty liability.
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
