Dear Expert,
I have a query in regard of a service (AMC) which was related to FY-17-18 and bill date is 19/04/2018.So far, payment is not done for this service.
Could you pleae explain that, what is the accounting treatment for this bill ?
4 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 30 April 2018
Bill is raised on 19.4.2018 while payment not yet received..
As per time of supply rule , here date if invoice is time of supply & you have to pay tax in April 2018......
As per time of supply rule , here date if invoice is time of supply & you have to pay tax in April 2018......
Vikram Singh
(Accounts Officer)
(41 Points)
Replied 03 May 2018
Thanks for your feedback.
There is one thing that service are relate to FY-17-18. So, in finanacial report can we claim for expense in FY-17-18 or not.
And if we takes the provision then it will dissallowed due to non-diductable of TDS.
BHALCHANDRA
(PARTNER)
(28 Points)
Replied 06 May 2018
You can make a provision of expenses on 31.03.2018 and deduct TDS on the same. Pay the TDS now with interest
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