Diffrence beetwen US GAAP &Indian GAAP

From where can I find out accounting standards 30 and 31?

Can we credit the mat credit in the P&L a/c as per AS 22.Please give the detail of AS 22 & any other guidance note on MAT credit.My doubt regarding entry of MAT CREDIT when we can't book the future profit as per prudent concept then why we are making entry of MAT credit.

Dear sir/madam,
My query is as follows:-
1.X Ltd.got the approval of a BOT Project from State govt. agency in sept.2005.

2.X Ltd.formed a SPV Y Ltd. in Nov. 2005 having 70% share and rest 30% held by other entity. Agreement executed between SPV and govt. agency for contract cost maximum of Rs. 150 crore in Nov. 2005.

3.X ltd. made an agreement with SPV Y Ltd. for taking the same contract on 202.00 Crores in Sept.2006.
In between the period of sept.2005 to sept.2006 X ltd. was doing all formalities for the project.

4. For Dec. 2006 quarter X Ltd. shows contract completed 35% and books profit of Rs.60.00 crores in compliance with AS-7.

Here my question is that can X lTD.show such profit in short term where the BOT Project taken by SPV is for 20 years and SPV can earn revenue after completion of project by charging toll charges etc?

Here 70% funds of SPV financed by X ltd itself,so in reality X Ltd is showing inflow of revenue from SPV which is nothing but its own fund invested in SPV.
Is it possible ?

R/s. Sir / Madam,
I want the TDS Circular which is given the rate of payment to Contractor.
This circulor is important for me.
Please give circulor number / link.
Sachin

Advance bank gautantee taken and given to a client is it contingent laibility to a company?
is it should form notes on accounts under AS 29

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Can anybody help me??

I am getting stock increase in quantitative terms i.e. sales are less and closing stock is high, but in value terms there is decrease in stock, i.e. value of Closing stock is less than value of opeing stock...

why this is happing?? I am not able to find out ...?

I am valuing the WIP at 75% of selling price, while whole FG is valued at SP.

Please help me...

HI dear all,

If i have imported some goods(CIF)and its in way and i want to make High Sea Sale then that would be point of booking accounting entry in my books of account and rate of exchange to be used .

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