Bill releted
Sayed Nabil (301 Points)
21 June 2021
if cash/retail invoice issued to a registered person under gst is right or not
Sayed Nabil (301 Points)
21 June 2021
CA Altamush Zafar
(GST Consultant)
(15907 Points)
Replied 21 June 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 21 June 2021
Usually for small value (< 10k), cash bills can be generated.
Just keep in mind the provisions of Income Tax Act under section 269ST in respect of seller and section 40A(3) in respect of buyer.
Sayed Nabil
(301 Points)
Replied 21 June 2021
CA Altamush Zafar
(GST Consultant)
(15907 Points)
Replied 21 June 2021
Yes you can issue invoice.
There is no non compliance
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 21 June 2021
I think I've answered this. Let me explain.
There is no restriction under GST Law for issue of cash invoices but there are restrictions under Income Tax Act to receive/pay in cash.
Sayed Nabil
(301 Points)
Replied 21 June 2021
CA Altamush Zafar
(GST Consultant)
(15907 Points)
Replied 21 June 2021
How does your serial number gets affected?
Sayed Nabil
(301 Points)
Replied 21 June 2021
CA Altamush Zafar
(GST Consultant)
(15907 Points)
Replied 21 June 2021
You can maintain separate series of invoices as per your convenience. Law allows it.
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