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
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Rental income gst and it purpose
- Gift Received from nonblood relative
- FTS Taxable under 115A
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EPF FULL & FINAL RULES IN 2026
- Experts need help
- Management System (IMS)
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
