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Mercantile method of
accounting employed.
All signicant accounting Expenses and Income are
Financial
1. policies adopted by a accounted for on accrual
Statements
person. basis as per generally
accepted accounting
principles in India
principles in India
Any change in an
accounting policy which has
a material effect shall be
disclosed. The amount by
which any item is affected
by such change shall also
be disclosed to the extent
be disclosed to the extent
ascertainable. Where such
amount is not
ascertainable, wholly or in
part, the fact shall be
indicated. If a change is
made in the accounting
policies which has no 3CD - Clause 13 Applicable only if some
2.
material effect for the (b), (c) change is there
current previous year but
which is reasonably
expected to have a material
effect in later previous
years, the fact of such
change shall be
appropriately disclosed in
the previous year in which
the change is adopted and
also in the previous year in
which such change has
material effect for the rst
time.
the amount of
advances received;
and
the amount of
retentions.
In a transaction involving
sale of good, total amount
not recognized as revenue Not Applicable/The Rs XX,xx
during the previous year due amount was not recognized
1. Scrutiny
to lack of reasonably due to lack of reasonable
certainty of its ultimate certainty
collection along with nature
collection along with nature
of uncertainty.
amount of costs
incurred and
recognized prots less
4. recognized losses
upto end of previous
year;
the amount of
advances received;
and
the amount of
retentions.
2. Rate of depreciation
Additions or deductions
during the year with dates;
in the case of any addition
of an asset, date put to use;
including adjustments on
account of -
Central Value Added
4. Tax credit claimed and
allowed under the
CENVAT Credit Rules,
2004;
change in rate of
exchange of currency;
subsidy or grant or
reimbursement, by
whatever name called
5. Depreciation allowable
Other than
Nature and extent of FA not
Government grants not MRL & check recognized
4. recognized during the grants received as income
previous year as income from nancial
and reasons thereof.
In case of specic
borrowing, actual
expected reimbursement.
Closing
balance
Particulars
Following disclosure shall
(with Amount
be made in respect of each
description)
class of asset and related
income recognised as
provided in para 11, namely: Opening
Balance
Balance
a brief description of
the nature of the asset Add: amount
New New
New
If any clause is not applicable, rather than leaving it blank. 'Not applicable' should be
written.
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Naman Shrimal
on 06 September 2017
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