Cash balance difference

it assessess cash on balance finical year March ending
example:
cash balance as per books rs:100/-
cash balance as per physically rs:120/-
question:
assessess difference amount adjustment compulsory.
Replies (4)
Quick Summary
This discussion addresses discrepancies found between a company's book cash balance and the physically counted cash. It highlights that such differences are unacceptable and require thorough investigation into each voucher to identify the cause. The thread also touches upon the serious legal and financial consequences of excess cash, including potential GST implications, penalties from government agencies, and income tax liabilities.

No question of adjustment, but need to check the reason for variance, if the difference is remarkable.

Cash balance difference is not accepted.
chk every voucher.

Excess cash found in Company is illegal. GST is applicable @ a higher rate for items sold by that company. If Govt Agency recovers cash, then a penalty will also be imposed. Income tax is also applicable. 

Who told gst us applicable?
cite specific instances or case laws.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details