Limit of 5000
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2017
Dear Experts.
my turnover is below 20 Lacs also not having any interstate transaction Hence Not registered in GST
but i have heard that i cannot sale the goods in excess of 5000 per day.
pls do let me know is it correct...... what is the rule of this 5000
Thanks In Advance
Mukul Jain
my turnover is below 20 Lacs also not having any interstate transaction Hence Not registered in GST
but i have heard that i cannot sale the goods in excess of 5000 per day.
pls do let me know is it correct...... what is the rule of this 5000
Thanks In Advance
Mukul Jain
CA Shubhanshu Jain
(Expert)
15 July 2017
No this is totally a rumor
Actually Government has prescribed limit of Rs. 5000 in case of purchase from unregistered dealer that means if registered dealer purchases from unregistered dealer in excess of rs. 5000 then he has to bear tax under reverse charge but there is no restriction of transaction to be made by unregistered dealer or with unregistered dealer
so don't worry there is no such provision which you are saying.
Actually Government has prescribed limit of Rs. 5000 in case of purchase from unregistered dealer that means if registered dealer purchases from unregistered dealer in excess of rs. 5000 then he has to bear tax under reverse charge but there is no restriction of transaction to be made by unregistered dealer or with unregistered dealer
so don't worry there is no such provision which you are saying.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
