Section 40 A(3)
This query is : Resolved
01 October 2008
Hi
I am deepak, Mr. A purchase goods from Mr. B every month by issuing bearer Cheque in the Mr. B. Purchase amt is always below Rs. 20,000/- but Mr. A is not taking Bill from party to Save M. Vat on the bill. During the Financial Year Mr. A purchase goods worth Rs 1,75,000/-. Pls advice, whether this amount is allowed or not.
Thanks in advance
Regards.....Deepak
I am deepak, Mr. A purchase goods from Mr. B every month by issuing bearer Cheque in the Mr. B. Purchase amt is always below Rs. 20,000/- but Mr. A is not taking Bill from party to Save M. Vat on the bill. During the Financial Year Mr. A purchase goods worth Rs 1,75,000/-. Pls advice, whether this amount is allowed or not.
Thanks in advance
Regards.....Deepak
CMA Jitendra Singh
(Expert)
01 October 2008
Amount will be allowed ,MVAT is different issue
CA Nitin Wadhwani
(Expert)
01 October 2008
Purchase Amt. is irrelevent.
If Payment is not above 20000/-, it is allowed.
If Payment is not above 20000/-, it is allowed.
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