Charging of a bank guarantee commission
This query is : Resolved
BHASKAR AUDDY
(Querist)
17 May 2011
One of our client has taken bank guarantee from a bank. The beneficiary of the BG is a vendor of the client. The duration of the BG is seven years. Since the commission for bank guarantee is for huge amount, this can be charged to the Profit & Loss Account over the tenure of the Bank Guarantee?
Please reply in the light of AS-26 and As-29
Please reply in the light of AS-26 and As-29
RAMESH KUMAR VERMA
(Expert)
17 May 2011
actually in india various bank charges differnets in the era of globalisation.
u can direct approach in bankers...
u can direct approach in bankers...
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