Bifurcation of emi purchased item schedule- iii, co act
jinal mehta (Asso accounts manager) (212 Points)
21 April 2016jinal mehta (Asso accounts manager) (212 Points)
21 April 2016
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 22 April 2016
Ofcourse it would be classified into Borrowrings and name of the financer will be there in the Balance Sheet. As we does in case of Vehicle Finance case.
jinal mehta
(Asso accounts manager)
(212 Points)
Replied 22 April 2016
but i have not taken any loan, to classfy the same into short term borrwoing, amount is directly paid by financer to purchaser and now i am paying amount to financer
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 22 April 2016
It is the Loan taken by you from the Financer. It is the case simillar to the Auto Finance.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India