AS 29

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2010 hello! can any one tell me whether it is required to disclose in notes yo account an disclose conyingent liability for duty paid under protest

CA KISHORE VANAMA

CA KISHORE VANAMA (Expert)
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19 June 2010 I think no disclosure is required in case of duty paid under protest

Rasesh

Rasesh (Expert)
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21 June 2010 The total liability that could happen if you lose the matter or the total demand against which some amount has been paid under protest should be provided as contingent liability.

The amount paid under protest and for which matters are pending will in any case be reflected in the CARO report.

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Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2010 thank u