Unbilled revenue refers to the revenue which has not been billed to customer but which has been incurred i.e. earned. But there is a timing to record the revenue in the books of accounts as per AS-9 i.e. Revenue Recognition. This article discusses the accounting treatment and GST implications on unbilled revenue.
Source: taxmann.com
Latest Posts in "India"
- GSTN Releases Key FAQs on GSTR 9/9C Filing for Financial Year 2024-25
- Supreme Court: VAT Credit Cannot Be Denied Due to Supplier’s Tax Default
- Trickiest countries in which to achieve compliance
- India announces changes in the Invoice Management System
- GST: India’s Grand Federal Bargain Becomes Imperfect Political Compromise After Eight Years
