CASH PURCHASE LIMIT
13 December 2019
I want to know that our company is working as a computer goods trader registered in GST as regular dealer
if we purchase some particular item in cash under 10000 then should we liable for RCM in FY 2019-20.
if we are liable please provide me notification no for this.
2. if we purchase any item in cash which has cost Rs. 32000 then can we have to pay penalty in income tax and Gst both yes or not
Please explain me
Sir and Mam
I am in a Fix it's very urgent for me
help as much as you can.
14 December 2019
1 Not liable for RCM.
2 No penalty in GST and income tax. In income tax the expenses will be disallowed.