Revised schedule via current & non current
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2012
Kindly give views on the amounts outstanding from varioius parties which are under arbitration/court case. Whether thiese items can be classified under Current Assets/Liabilities under the revised Schedule VI.
Regards,
A S GUPTA
Kindly give views on the amounts outstanding from varioius parties which are under arbitration/court case. Whether thiese items can be classified under Current Assets/Liabilities under the revised Schedule VI.
Regards,
A S GUPTA
08 August 2012
Normally the arbitration agreement contains period of award. If it is reasonable to believe that the amount shall be awarded within a year put it under the column of current else show it otherwise.
10 October 2012
Many Times Award Case will take long time in Settlement more then a year....So You should take it as Non Current.
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