What shd be the limit of expenses accountable without GST bill per day..Is it 5000..?
and if it is more than the amount wt shd we do pls.
Replies (2)
Quick Summary
This discussion explores the daily limit for business expenses that can be accounted for without a GST bill. It clarifies that while the GST law has a minimum invoice value of Rs. 200, this doesn't directly apply to the limit for individual daily expenses like repairs, stationery, or travel. The focus is on understanding the practical thresholds for claiming these common business costs.
The minimum value fixed to raise an invoice is Rs. 200 under the GST law. If the total value of multiple invoices is Rs. 200 and the buyer is an unregistered party then the seller can issue a single invoice instead of multiple invoices on a daily basis.