Cash balance difference
Kollipara Sundaraiah (B.com) (2984 Points)
07 April 2023example:
cash balance as per books rs:100/-
cash balance as per physically rs:120/-
question:
assessess difference amount adjustment compulsory.
Kollipara Sundaraiah (B.com) (2984 Points)
07 April 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178099 Points)
Replied 07 April 2023
No question of adjustment, but need to check the reason for variance, if the difference is remarkable.
sabyasachi mukherjee
(27579 Points)
Replied 08 April 2023
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 08 April 2023
Excess cash found in Company is illegal. GST is applicable @ a higher rate for items sold by that company. If Govt Agency recovers cash, then a penalty will also be imposed. Income tax is also applicable.
sabyasachi mukherjee
(27579 Points)
Replied 09 April 2023