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Is credit card a short term borrowing under revised sch vi

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 August 2012 Is a bank credit card used for business expenses a short term borrowing or a trade payable under revised schedule vi. Need a quick reply please..

Thanks in advance
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Nischit Sanghavi

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Nischit Sanghavi (Expert)
22 August 2012 It is not a Trade payable bcoz we never pay our creditors by Credit card.

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