KURIAN XAVIER (Freshly Qualified) (222 Points)
04 November 2011Any body please help regarding provisining relating to lease & hire purchase assets of NBFC
In p-8.27 of icai material, I found it as
Overddue upto 12 Nil
12 to 24m 10%
24 to 36m 50%
> 36m 100%
In p-8.38 of icai material, I found it as
Upto 12m Nil
12 to 24m 10%
24 to 36m 40%
36 to 48m 70%
>48m 100%
Anybody please Clarify
Pijush Roy
(ERP SAP Functional Tester)
(281 Points)
Replied 04 November 2011
Where any amounts of hire charges or lease rentals are overdue upto 12 months = Nil
Where any amounts of hire charges or lease rentals are overdue for more than 12 months but upto 24 months = 10% the net book value
Where any amounts of hire charges or lease rentals are overdue for more than 24 months but upto 36 months = 50% of the net book value
Where any amounts of hire charges or lease rentals are overdue for more than 36 months = 100% of the net book value
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
