Revised schedule via current & non current
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2012
Kindly give views on the amounts outstanding from varioius parties which are under arbitration/court case. Whether thiese items can be classified under Current Assets/Liabilities under the revised Schedule VI.
Regards,
A S GUPTA
Kindly give views on the amounts outstanding from varioius parties which are under arbitration/court case. Whether thiese items can be classified under Current Assets/Liabilities under the revised Schedule VI.
Regards,
A S GUPTA
08 August 2012
Normally the arbitration agreement contains period of award. If it is reasonable to believe that the amount shall be awarded within a year put it under the column of current else show it otherwise.
10 October 2012
Many Times Award Case will take long time in Settlement more then a year....So You should take it as Non Current.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
