The 2021 amendment to Schedule III mandates specific ageing buckets for trade receivables: less than 6 months, 6 months to 1 year, 1 to 2 ବର୍ଷ, 2 to 3 ବର୍ଷ, and over 3 ବର୍ଷ. CORAA composes these buckets automatically. Party-wise ageing unlocks at Tier II (Party Master loaded); bill-wise precision at Tier III (Bill Register loaded). Receivables over 3 ବର୍ଷ are auto-flagged as Section 41(1) cessation candidates.
Two paths to the same audit conclusion. One leaves traces; the other doesn't.
Pick the Balance Sheet date (typically ମାର୍ଚ୍ଚ 31) or any other reference date. CORAA computes the ଦିନ outstanding for every receivable as of that date.
ਹਰ ਗ੍ਰਹਣਯੋਗ Sch III ਸੰਸ਼ੋਧਨ 2021 ਦੇ ਪੰਜ ਬੈੱਕਟਾਂ ਵਿੱਚੋਂ ਇੱਕ ਵਿੱਚ ਆਉਂਦਾ ਹੈ। ਬੈੱਕਟ ਜੋੜ ਬੈਲੇਂਸ ਸ਼ੀਟ ਦੀ ਵਪਾਰਕ ਗ੍ਰਹਣਯੋਗ ਲਾਈਨ ਤੱਕ ਰੋਲ ਅੱਪ ਹੁੰਦੇ ਹਨ। CY ਤੇ PY ਏਜਿੰਗ ਨਾਲ-ਨਾਲ ਦਿਖਾਈ ਦਿੰਦੇ ਹਨ।
Receivables over 3 ବର୍ଷ are candidates for write-off under Section 41(1) of the ଆୟକର ଅଧିନିୟମ (cessation of liability, reverse for assets). The ଅଡିଟର୍ reviews each, decides to provide or write off, and the disposition feeds Form 3CD Clause 16.
ਨਿਰਧਾਰਿਤ ਪੰਜ ਬੈੱਕਟ। ਬੈੱਕਟ ਸੀਮਾਵਾਂ ਅਟੱਲ ਹਨ ਤੇ CORAA ਦੀ ਪੇਸ਼ਕਾਰੀ ਨਿਯਾਮਕ ਦੇ ਸਟੀਕ ਪਾਠ ਨਾਲ ਮੇਲ ਖਾਂਦੀ ਹੈ।
Each bucket further splits by ସୁରକ୍ଷା: Secured (against assets, guarantees), Unsecured, and Doubtful (provision-eligible). The classification feeds Note 19 Trade Receivables.
Receivables over 3 ବର୍ଷ prompt Sec 41(1) review. If the party has clearly ceased to exist or pay (winding up, NCLT order, prolonged absence), the receivable is written off; otherwise a provision is created.
AS 4 prescribes a provision for doubtful debts based on the ଅଡିଟର୍'s expectation of recoverability. CORAA suggests a provision based on ageing distribution; the ଅଡିଟର୍ confirms or adjusts.
