3cd --> what if written due date is 90 days?
This query is : Resolved
14 March 2024
i am not an msme but i purchased goods from msme with terms of 90 days credit.
then do i have to pay in 45 days INSPITE of credit time being 90 days?
my view-->yes, 45 days is max . if overdue beyond 45, i (purchaser) will have to pay 3 times bank rate interest to supplier and that wont be allowed as interest deduction.
my q is --> even if 90 days , then also only in 45 days i have to pay off>?
then do i have to pay in 45 days INSPITE of credit time being 90 days?
my view-->yes, 45 days is max . if overdue beyond 45, i (purchaser) will have to pay 3 times bank rate interest to supplier and that wont be allowed as interest deduction.
my q is --> even if 90 days , then also only in 45 days i have to pay off>?
14 March 2024
max time allowed is 45 days only. regardless of wether the payment terms say 60 days or 90 days.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
