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Non payment of creditors
any fixed assets pur. on credit basis after a time no payment to creditors....tb kya accounting entry pass hogi aur uski taxability pr kya impact aayega....plz tell me
Replies (5)
Creditors will be shown as outstanding liability .
Lekin crs ko pay krne ki intention he nhi h..tb crs ko kese w/o krenge
First of all you have to reverse ITC if earlier availed. If apka intention creditor ko pay krne ka nhi hai then aap usko write off karna hoga and ush written off value pe income tax arise hoga
Okk sir thank you..
Treat like Discount Received full amount
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