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Balance sheet required for 2 addresses

751 views 4 replies

Jatin Gupta

35 Points Posted on 16 May 2020

Sir,

I am proprietor of firm which is working in Delhi since 2014. Now I have registered separate GST with same PAN number in Mathura also. I have built a factory in Mathura also for manufacturing purpose.

Do I need to make separate balance sheet for 2 firms?

I need to apply for loan in Mathura how can I make balance sheet of Mathura ( did sale material for 6 months).

Do I need to club the figures of Delhi and Mathura.

Please help

Replies (4)

yasaswi gomes

My grammar is 💯 good I

7301 Points Posted on 17 May 2020

Everything is separate financial statements. It should be in accordance with Ind AS 1. I guess branch accounting will work out in separate statements. Just recognise loan in Madhura statements. Yes you have to club the figures.

Mohit Jagnani

Professional - CA firm

524 Points Posted on 17 May 2020

Hi sir,

there is no need to make separate balance sheets

as far as loan is considered please consider a consolidated amount.

also for availing subsidy since you are planning for manufacturing unit there won't be any requirement for two separate balance sheet just make sure you file your gst correctly and avail other benefits with due care

thanks
Mohit
8335093446

SOHAN LAL

Manger Accounts & Finance

363 Points Posted on 17 May 2020

No need to prepare sperate balance sheet. you can single balance sheet of Delhi & Mathura branch with consolidated figures

CA Kratanshu Gupta

Chartered accountant

290 Points Posted on 18 May 2020

In the case of proprietorship firm , only one financial Statement on consolidated basis is need to prepared and for taking loan for mathura , you need also projected financial statement , in case you require further assistance, you can write me at cakratanshugupta @ gmail.com