Dear Expert,
I have a query in regard of a service (AMC) which was related to FY-17-18 and bill date is 19/04/2018.So far, payment is not done for this service.
Could you pleae explain that, what is the accounting treatment for this bill ?
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Financial impact of old service
Replies (4)
Bill is raised on 19.4.2018 while payment not yet received..
As per time of supply rule , here date if invoice is time of supply & you have to pay tax in April 2018......
As per time of supply rule , here date if invoice is time of supply & you have to pay tax in April 2018......
Thanks for your feedback.
There is one thing that service are relate to FY-17-18. So, in finanacial report can we claim for expense in FY-17-18 or not.
And if we takes the provision then it will dissallowed due to non-diductable of TDS.
You can make a provision of expenses on 31.03.2018 and deduct TDS on the same. Pay the TDS now with interest
Agree with bhalchandra
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