provision for supplementary price increase decrease for raw material exempt or not in income tax?
actual supplementary debit note received in next finance year
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 16 September 2023
If we provide provisional entries then its impacted in the Accounting of the same year.
sabyasachi mukherjee
(27821 Points)
Replied 19 September 2023
There is no rule in income tax by which any price increase can be supplemented by corresponding raw material price increase.
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