post dated cheques
This query is : Resolved
01 July 2008
hi,
can u tell me what are the consequences of issuing post dated cheques.. which s accepted by the company from its customers.. also pls clarify from audit point of view..
can u tell me what are the consequences of issuing post dated cheques.. which s accepted by the company from its customers.. also pls clarify from audit point of view..
01 July 2008
Consequences for whom?
03 July 2008
Treatment depends upon the type of Customer. If the company have regular transactions with the concerned customer then there will be no seperate disclosure or other requirement. Just the party ledger' ll be credited by debiting the Cheque in Hand Account.
However if the customer was classified as debtors without raising any bill then same may be taken as Advances from parties.
However if the customer was classified as debtors without raising any bill then same may be taken as Advances from parties.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
