Revised schedule vi
This query is : Resolved
13 October 2012
Hello frnds, As per revised Schedule VI the term “sundry debtors” has been replaced with the term “trade receivables.” ‘Trade receivables’ are defined as dues arising only from goods sold or services rendered in the normal course of business. Hence, amounts due on account of other contractual obligations can no longer be included in the trade receivables. Can some one explain me the term Contractual obligation broadly.
13 October 2012
Few examples :-
i) Dues in respect of insurance claims,
ii) Dues on account of sale of fixed assets,
iii) Contractually reimbursable expenses,
iv) Interest accrued on trade receivables etc.,
i) Dues in respect of insurance claims,
ii) Dues on account of sale of fixed assets,
iii) Contractually reimbursable expenses,
iv) Interest accrued on trade receivables etc.,
13 October 2012
thanks sir ...now i got it..!!
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