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Plz help..

Statutory Audit 606 views 4 replies

Friends.

What is the meaning of the following statement..?

"A mere representation to the department shall not constitute the dispute"

 

and What are Cash Losses?

 

thank you

Cheers.

Replies (4)

1. its related with classification of statutory dues in disputed and undisputed. To call dues as disputed, some visible action from company side should b taken which proves co is not agree with such dues, ie appeals, rectification etc, however mere representation to d dprtmnt shall not cause dispute, means only action of representation made by co in front of department ie AO, officers of excise, customs etc is not sufficient nd something additional action is required like appeals and rectifications etc

 

2. cash loss is loss of company after adjsting all non cash items, for eg cash loss=actual loss as per P&L + dep (being non cash item)

Originally posted by : nikhil
1. its related with classification of statutory dues in disputed and undisputed. To call dues as disputed, some visible action from company side should b taken which proves co is not agree with such dues, ie appeals, rectification etc, however mere representation to d dprtmnt shall not cause dispute, means only action of representation made by co in front of department ie AO, officers of excise, customs etc is not sufficient nd something additional action is required like appeals and rectifications etc

 

2. cash loss is loss of company after adjsting all non cash items, for eg cash loss=actual loss as per P&L + dep (being non cash item)

So Nikhil going for Appeal or For Rectification would be treated as Dispute,Right?

Just A representation will not be called as Dispute ! Right?

Yuppp...just representation will not cause to qualify dues as disputed

Thank you nikhil.smileyyes

Cheers.


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