Contingent Liability AS-29
This query is : Resolved
10 February 2011
till the date of signing of Tax audit report "C" Form not recived constitute contingent liability?
for the balance amount of Tax which the company should pay to the Sales tax department if the sale is made with in state.(i.e. 4% state rate and 2% Cst than is 2% is contingent Liabiity)
for the balance amount of Tax which the company should pay to the Sales tax department if the sale is made with in state.(i.e. 4% state rate and 2% Cst than is 2% is contingent Liabiity)
10 February 2011
Here we have see case by case basis, considering the past history of the collectibility of C form and additional tax paid previously due to non receipt such C forms.
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