Debit notes

Dear Roshan

As above case supplier have raised a debit note towards ansgt late payment. Pls clearify is't payable or not as per supplier contract .

IF yes, then Ist we have to consider the said amount in our book as a provision before closing the F.Y.

if we forget 

 Than take a managment approval  and discuess with supplier they will change, date of Debit notes otherwise both exp is consider in the books as a prior period exp.

Note:- In that case a seperatre disclosure /detail is to be shown in company note to account as per AS-05.

Rgds

S.S.RAWAT