Income tax Act does not allow cash basis, GST law is also structured on mercantile basis. If company insist to maintain books on cash basis, it will have to mandatory keep another set of books on mercantile basis. But what is the use of taking this much extra pain?
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
