Can a company pass the entry of brokerage in a single day for the whole month ?
Amit Kanunga (Article Assistant and Post Gradute) (644 Points)
22 March 2016Amit Kanunga (Article Assistant and Post Gradute) (644 Points)
22 March 2016
Saliq Ansari
(CA_Final Student)
(885 Points)
Replied 22 March 2016
Brokrage is in nature of income or Expenses for the Company.
IF it is Income then recognition will be governed by AS - 9.
&
IF it is Expenses then it would probably be recognised as and when accrued.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)