Please can anyone tell me what is the meaning of "Current Maturities of Long Term Debt" in the Revised Schedule VI.
Amit Kumar Verma (CA Final CS Professional) (501 Points)
21 August 2012Please can anyone tell me what is the meaning of "Current Maturities of Long Term Debt" in the Revised Schedule VI.
C.A. Jignesh N. Mehta
(C.A.)
(1030 Points)
Replied 21 August 2012
Let us take an example:
You have a long term borrowing of Rs. 20 Lacs
The terms of repayment are Rs. 1 Lac per month for 20 months
Now as per the Revised Schedule VI,
Rs. 12 Lacs which is repayable within 12 months from the balance sheet date are to be treated as Current Maturities of Long Term Debt (Short Term)
Balance Rs. 8 Lacs are Long Term Borrowings
Amit Kumar Verma
(CA Final CS Professional)
(501 Points)
Replied 21 August 2012
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