Is credit card a short term borrowing under revised sch vi
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2012
Is a bank credit card used for business expenses a short term borrowing or a trade payable under revised schedule vi. Need a quick reply please..
Thanks in advance
Thanks in advance
Nischit Sanghavi
(Expert)
22 August 2012
It is not a Trade payable bcoz we never pay our creditors by Credit card.
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