Write off balance of creditor(importer)
This query is : Resolved
Deepak Kumar
(Querist)
06 May 2017
i have found a case during work i.e there is balance outstanding for Rs 20 lakhs due to purchase made by company from USA but company had claimed the quality rebate from importer and have not reduced the balance but now that company has been taken over by the new company and that new company has demanded the same amount.
Our company has replied to them but no further reply from the new company.
can we write off the balance now or not.
is there any legal issue if we write off the balance
Message likes :
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Amol S Joglekar
(Expert)
07 May 2017
unilaterally writing back the amount is not justified.
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