Pls guide me when should we make Confirmation of Accounts and who will send to whom and also the how to send , any format for it or how many copies need to get .
CA CMA CS Ram Pavan Kumar Melam
(CA)
(6980 Points)
Replied 12 June 2013
Balance confirmation may be obtained periodically i.e. montly, quarterly, semi-annually, annually etc. This excercise may be done atleast once in a year for prompt settlement of transactions. Confirmation may be obtained from all debtors, creditors, banks (for all accounts including current, loan, term deposits, EEFC, escrow, etc), borrowers, other lendors, etc.
The format is enclosed. You modify the same to suit your requirements.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)