Revise schedule vi

CA SANDESH MAHIPAL (Practicing in GST and MSME )   (1985 Points)

27 August 2012  

Please explain the meaning of following line mentioned in guidelines of revise schedule vi.

 

"A liability is classified as current if, as on the Balance Sheet date, the Company does not have an unconditional right to defer its settlement for 12 months after the reporting date."

 

I m confused basically in the words " Does not have" and "unconditional".

 

Thankx in advance