Int on bill discounting
This query is : Resolved
06 September 2011
Dear Experts,
We want to discount a export bill with bank.
Bill is for $ 1,08,000/- terms of pymt is 90 days from Bill of Lading.
B/L date is 06.08.2011.
suppose if we discount the bill with our bank on 07.09.11 @ Rs46.20/$. & rate of int on bill discounting is 10.27%. then..
What will be the amt of int on bill discounting?
What period will be taken into account for calculating the int on bill disc.?
Whether from B/L date to due date of bill or from the date of bill discounting to due date of B/L date?
Waiting for ur reply....
Thanks in advance..
Regards,
Sushil.
We want to discount a export bill with bank.
Bill is for $ 1,08,000/- terms of pymt is 90 days from Bill of Lading.
B/L date is 06.08.2011.
suppose if we discount the bill with our bank on 07.09.11 @ Rs46.20/$. & rate of int on bill discounting is 10.27%. then..
What will be the amt of int on bill discounting?
What period will be taken into account for calculating the int on bill disc.?
Whether from B/L date to due date of bill or from the date of bill discounting to due date of B/L date?
Waiting for ur reply....
Thanks in advance..
Regards,
Sushil.
08 September 2011
The bill discounting rate and interest differs from bank to bank and is also based on number of days.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- PAN Migration to New AO
- Tax implications of gift to maternal uncle
- How to open attachment in 23ac xbrl
- 26QB correction - no data available error for fully consumed/processed with default
- Input Tax Credit Puf panels
- Gifts in cash
- Excess TDS Paid - Form 26QC
- Capital gains LTCG
- Tds rate on loan given to a firm from personal file
- Validity of Transfer Pricing Notice u/s 92CA(2)
- ITC on rental services
- Regarding Tax Audit Query
- Real Estate Transaction Structuring with Power of attorney & Beneficial Ownership
- ITC available on QIP Expenses
- EBRC Generation
- AS-16 Treatment of Borrowing cost for land and building
- HSN Wise Summary Reporting in GSTR-1
- TDS on Payment to Non-Resident by Resident Foreign Entity
- HOW TO CALCULATE FOOD CHARGES
- Travel Agent Charges 5 GST without ITC. Can he raise invoice18 on Service Fee for Flight Tick
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
