TRADE PAYABLES

As per Schedule III of Companies Act 2013, trade payables described as:

A payable shall be classified as a “Trade Payable” if it is in respect of the amount due on account of goods purchased or services received in the normal course of business.

A trade payable is a financial liability, an amount billed to a company by its suppliers for goods delivered to or services consumed by the company in the normal course of business.

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