Is there any provision saying Input cannot be claimed from Cash purchases made ?
Menu
Cash purchase
Replies (7)
unless buyer gst number is quoted on the invoice and a person cannot claim gst. there is no such condition of cash.
Thank you,Sir.
No Such Condition Under GST
Only under IT act, there is condition of cash purchase of more than Rs. 10,000/- is disallowed. No ITC loss under GST.
No such condition is applicable under GST Law.
It is applicable in case of Income Tax Act 1961. Section 40A(3) of the Income Tax And 1961 states that Cash Purchase exceeding Rs.10,000 would not be allowed as deduction under PGBP.
Warm Regards.
It is applicable in case of Income Tax Act 1961. Section 40A(3) of the Income Tax And 1961 states that Cash Purchase exceeding Rs.10,000 would not be allowed as deduction under PGBP.
Warm Regards.
Ok clear clarification
Thank you Sir
Recent Threads
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
- TDS on Property- 26QB filing Doubt
Related Threads
CAclubindia
