Gst and audit dates clashes any chance to extend date of tax audit

Hello Respected Members,

I want one clarification on the below mention situation

I have one private limited company having Turnover less than Rs. 50 Cr. and borrowings also less than Rs. 10 Cr. i.e it is treated as Small & Medium sized company.

So, according to Small & Medium Sized company (SMC) as defined in clause 2(f) of the companies (Accounting Standards) Rules, 2006 there is relaxation for applicability of AS - 3 & AS - 17.

However, as per provision of section 129 of the companies Act, 2013 Financial Statements shall comply with Accounting Standards notified u/s - 133

So, my question is whether AS-3 will be applicable or not?? and who shall prevail over which i.e where there is conflict between Accounting Standard and provision of companies act, whom to give preference.

Please provide the solution in above matter

Bank gives quarterely interest on FDRs. Suppose i invested Rs.100000 in FDR on 01.04.17 and on 30.06.17 Bank gives interest Rs.1000 and TDS deducted Rs.100 then this interest to be recorded in books as on 30.06.17 or on 31.03.17(alongwith other quarters interest)

Hi,

We have two firms one is proprietorship and another one is Pvt. Ltd. company. One of our client has made payment for the invoice of a proprietorship firm into the PVT. Ltd. company bank account. So can we now directly transfer the payment to our another firm or will have to refund and ask the client to make payment again. ?

If we can transfer directly, what will be the entry in the books of pvt. ltd. for this transaction?

Dear sir
Credit card payment account comes under which group in tally
Exmple:
If we have 3 bank account and 2 bank account using only purpose of credit card payment and another account using payment through check like etc. If we want transfer or deposit money to credit card account what is the ledger we can create and under which account and how to handling entries in tally

We can create ledger under separate bank account under overdraft account or under unsecured loan or current liabilities
Please comment postive reply
Thank you
Best regards

Dear sir
Please advise whether tds applicable on telephone expenses or not??

Thanks
Virender

How to entry pass when interest accrued & TDS has been deducted in previous year and interest received in current year.

HiA and B both registered in Maharashtra....where A who is in to hiring of equipment gives it to B on hire but the place of hiring is in Karnataka...so wat will A charge in his invoices- Cgst and sgst or IgstPlease guide me

transport of passengers Gst rate is 5 , ITC is not available... in this case both services provider and recipient both not getting ITC or service recivepent can get ITC?

Hi all
It has come to know that Maximum cash transaction Per day Rs 10,000/- its ok, but fact is that Maximum Rs 5000/- i can pay if payee is not issued any bill or non-Taxable bill, is it true,,, if payee is issued taxable bill then i can pay Rs 10000/- is it true??? what should be about bank payment????
Need Your opinion.
Sanjoy Sardar
Accountant