Deputy Finance Manager
1136 Points
Joined May 2013
| Originally posted by : Yogesh Makhijani |
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cash sale mai Koi problem nahi h cash transaction aap 5000 se above nahi honi chahiye |
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if any single person receives bunch of bills total value of those bills is more than 5000/- per day, even if the bills are received from different persons.
So things to keep it in mind to avail the exemption is,
A) The supply should be intra state supply (within the state)
B) Can be for goods as well as services or both
C) The supply should be received by the registered person
D) Supply should be received from an unregistered dealer only
E) This notification exempts only CGST, SGST portion of any intra state supply is not covered in this notification.
F) The notification is only providing RCM exemption for the purchase from unregistered dealer, not any other RCM cases. So those RCM cases are not covered, which attract RCM by the nature of the supply, rather than the nature of the supplier.