Panchayat:Repo18/vol2-page0733
GOVERNAMENT ORDERS 733
i. Any subsequent Collection or recovery of 'Receivables for Water Charges' which were already written off shall be recognised as a “Prior Period income”.
j. Advance/excess payment of taxes/charges shall be treated as a liability till the taxes/charge becomes due, at which point, it shall be adjusted against receivables.
k. Part-payments received shall be first adjusted against penal interest, arrear demand and current demand in the listed order.
Electricity
a. Revenue in respect of Electricity Charges shall be recognised in the period in which they become due and demands are ascertainable.
b. Revenue in respect of Notice Fee, Warrant Fee and Other Fees shall be recognised when the bills for the same are raised.
C. Revenue in respect of Connection Charges for Electricity shall be recognised on actual receipt.
d. Revenue in respect of Penalties shall be recognised on actual receipt.
e. In respect of the demand outstanding beyond two (2) years, provision shall be made to the extent of income of the Panchayat in the demand as follows:
Outstanding for more than 2 years but not exceeding 3 years: 50%
Outstanding for more than 3 years: 100% (additional 50%).
f. Any additional provision for demandoutstanding (net on overall basis) required to be made during the year shall be recognised as expenditure and any excess provision written back during the year shall be recognised as income of the Panchayat.
g. Refunds, remissions for the current yearshall be adjusted against the income and if pertain to previous years then it shall be treated as prior period item.
h. Write-offs of charges shall be adjusted against the provisions made and to that extent recoverable gets reduced.
i. Any subsequent Collection or recovery of 'Receivables of Electricity Charges which were already written off shall be recognised as a Prior Period income.
j. Advance/excess payment shall be treated as a liability till the charge becomes due, at which point, it shall be adjusted against receivables.
k. Part-payments received shall be first adjusted against penalty and interest, arrear demand and current demand in the listed order.
Rentals, Fees and Other Sources of income
a. Revenue in respect of License Fee for Dangerous and Offensive Trades and License Fee under Prevention of Food Adulteration Act shall be accrued in the year to which it pertains, when demands are ascertainable based on the terms of the Acts and Rules.
b. Revenues in respect of rents from properties shall be accrued based on terms of agreement.
c. Other income, in respect of which demand is ascertainable and can be raised in regular course of operations of the Panchayat, shall be recognised in the period in which they become due, i.e., when demand is ascertainable.
d. Fees for certificates & extracts, search fees, permit fee for construction of buildings sale of products, sale of scrap, sale of tender forms, etc. shall be recognised on actual receipt.
e. The other incomes, which are of an uncertain nature or for which the amount is not ascertainable or where demand is not raised in regular course of operations of the Panchayat, shall be recognised on actual receipt.
f. Revenue in respect of Notice Fee, Warrant Fee and Other Fees shall be recognised on actual receipt.
g. Interest element and Penalties, if any, in demand shall be reckoned only on receipt.
h. In respect of the demand outstanding beyond two (2) years, provision shall be made to the extent of income of Panchayat in the demand, based on the following provisioning norms:
- Outstanding for more than 2 years but not exceeding 3 years: 50%
- Outstanding for more than 3 years: 100% (additional 50%)
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ഈ താൾ 2018 -ലെ പഞ്ചായത്ത് റെപ്പോ നിർമ്മാണം യജ്ഞത്തിന്റെ ഭാഗമായി സൃഷ്ടിച്ചതാണ്. |