Menu
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
Recent Threads
- Jobwork in gold business...reg
- Journey entries
- Under what head this income should be added
- Please ensure the total of Deduction u/s 54F must
- ITR tax return related query
- Commercial property rent query
- What is the Accounting Treatment for the CAR buy b
- Intraday loss & FNO loss - small amount
- Query on carrying documents in case of e-way Bill
- 194C Income can be claimed under Other sources?
Related Threads
CAclubindia
