ADVANCES നമൂന വാക്യങ്ങൾ

ADVANCES. (1) The work advance / temporary advance sanctioned by the Council for meeting a contingent expenditure of a specified kind or on a specific occasion should be adjusted by detailed bills/ vouchers and settled within three months of the advance. (2) In cases where the work advance/ temporary advance is not utilised fully but the adjustment bill is submitted on time and if the balance is not repaid within 3 months, interest at the rate of 18% per annum will be charged on the unutilized portion of the advance from the date of advance to the date of refund. (3) In case where adjustment bill is not submitted within the prescribed time the entire amount of advance may be recovered in one lump immediately on the expiry of such time limit. Interest at the rate of 18% per annum will be charged on the entire amount of advance from the date of drawal to the date of recovery of the amount.