45 days payment rules

Is 45 days payment terms applicable trust institute. Trust HOSPITAL
Replies (6)
Quick Summary
This discussion clarifies the applicability of 45-day payment rules for a hospital operating under government schemes like Ayushman Card. The hospital is facing difficulties paying creditors due to delayed government payments. It's confirmed that the 45-day rule primarily applies to businesses filing income tax under section 44AB, suggesting it may not be mandatory for this specific hospital's situation, especially without a formal agreement with creditors for such terms.

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Sir WE HAVE TRUST HOSPITAL AND MANY CREDITOR PARTY SEND ME INCOME TAX NOTIFICATION 45 DAYS PAYMENT BUT WE HAVE OPERATE AYUSHMAN CARD (GOVT SCHEAME) PATIENT . GOVT NOT GIVEN MONEY THEREFORE WE HAVE NOT PAY PAYMENT ANY CREDITOR

IN THIS SITUATION 45 DAYS PAYMENT NOTIFICATION IS AMPLIMENT?
Is there any agreement between your Trust & Creditors, for payment within 45 days ?.
No sir only creditor party write on bill

interstate @ 18% P.A will be charged if payment is not made within 30 days
It's only applicable to persons who are filing income tax return under section 44AB so you don't need to worry about it
Thank you sir

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