Live Help
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 

GST implication on provisions recognised in books of account

May 10, 2018[2018] 93 taxmann.com 112 (Article)
1927 Views
As per the definition of ‘provision’ given in AS 29 as stated supra it can be said that provision is made in respect of any expense (capital as well as revenue) incurred by an entity. Also, provision is recognised only in cases where the goods or services have actually been received or partially received, because as per AS 29 ‘provision’ is to be recognised when it has a present obligation as result of past event.
read more

taxmann.com
Payment
Best view in 1140 x 768