are general insurance companies allowed to maintain their books on payment basis of accouting..??
CA and CMA Ravinder Singh (CA and CMA) (853 Points)
28 December 2013are general insurance companies allowed to maintain their books on payment basis of accouting..??
CA Dhruva Kalamanji
(Chartered Accountant )
(1996 Points)
Replied 28 December 2013
according to companies act all companies should maintain their books on accrual basis; there is no excemption on this issue
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
