How to treat liquor license fee paid per year. should we take the full amount paid to profit and loss or bifurcate it on time basis.
In the state of telangana the govt collects previlidge fee if the sale is more than 7 times the license fee.
basing on this will there be any difference in treatment of the license fee in books.
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Liquor license fee
Replies (3)
If paid annually, book annually.
Expenses should be booked on Accrual Basis. So book accordingly for the month's for which license is valid
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