Late receiving of vendors bill\invoices

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2015 Dear Experts,
i want to know that when to book bills in the books of accounts on the date of receiving or by the bill date.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

16 May 2015 whichever event is earlier u need to book on that date as bill can be sent later also.

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Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2015 Means,

if bill date is 30/04/15 and i received that bill on 15/05/2015 than I can Book it in the books of accounts on 15/05/2015

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

16 May 2015 it means bill is for month of april 15 so book on 30.4.2015

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2015 and if there is TDS liability of Rs. 10000/- which i have to pay on 07/05/2015. but the bill is received on 15/05/2015 than i have to pay late payment interest on the tds liability , but that,s not my fault

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

16 May 2015 income tax dept will not see whose fault is there, if u pay late tds then int will be have to be paid by you only

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2015 if i book that bill on 15/05/2015 than i dont have to pay interest on TDS payment, it contradict accounting standard or principal of accounting but i dont have to pay Interest
which may be in thousands in whole year

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

16 May 2015 fundamentally it should be booked by 30.7.2015

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Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2015 Means it should be booked on *30/04/2015

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