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Proir period exp

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(Querist)
03 April 2013 Dear Mambers

please explain the meaning of proir period exp. if we booked a consignment in current year and the date of party bill is last year and more over we have not booked the same consignment in goods in transit is it the proir period exp.?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
04 August 2013 since you are received the consignment current year you may not treat the same as prior period expenses

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