Advance from customer

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
02 April 2011 The company manufacturing activities are yet to be started say 5-6 months later. Can it receive advance from customer?

Any legal issue under Income Tax or other law.

02 April 2011 YES, COMPANY CAN RECEIVED ADVANCED FROM CUSTOMER AGAINST SUPPLY ORDER

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
02 April 2011 Dear Mr. Navin

I have doubt that the company has not set up factory yet?


03 April 2011 Hi,

You can go ahead, but make sure about the Accounting entires.

Not Setting up the Factory cannot be taken as a point for not receiving Advances from Customers, if the company is confident about running the Show.

Regards
CA. LOHITH.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
05 April 2011 Thanks Mr. Lohith



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries