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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- 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
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
