nayan (article assistant) (466 Points)
03 January 2013one of my client has paid the petroleum bill of july'12 in september'12. i am emphasing with my senior that it is not reasonable and bill should be reimbursed and recorded within 3 months but he is saying that it wont affect if it is paid in the same financial year. what shall i do? if i listen to my senior, is it reasonable to reimburse the bill of 11 month old for same financial year?
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 03 January 2013
Hey,
Since we close our books of a/c in every march.. such expenses allowed.
Even if in Mar 12, provision for exp is made payment agst same can be made in next FY too.
Thanks!!
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
