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Querist : Anonymous (Querist)
27 October 2013 DO THE 3 GRACE DAYS INCUDE BANK HOLIDAY ALSO , SUPPOSE A BILL DRAWN ON 14TH JULY AND IS TO MATURE AFTER 1 MONTH , SO WILL THE DUE DATE BE 17TH AUG IF 15TH IS COUNTED IN GRACE DAYS OR 18TH AUGUST?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
27 October 2013 In the given case due date will be 17th August. Holiday are also counted in days of grace.

Supppose the bill was drawn on 12th July then technically due date falls on 15th August which is a holiday so in this case 14th August will be due date and not 16th August.
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