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GST purchase
i have purchased Rs - 53000 cement using cash as in that area no one was accepting check. but dealer have given me GST invoice . Is there any problem that I have purchased with cash ???
Replies (5)
Yes... As per income tax cash payments not exceed Rs 10k... So, This expense will be disallowed in income tax...
You ll consider the Cement supplier and ask split the bill less than 10k with different dates...
You ll consider the Cement supplier and ask split the bill less than 10k with different dates...
Or show the payment made to supplier less 10000/- in different dates
No...
If Cash Bill then don't be exceeding above 10k and it's payment.
If Cash Bill then don't be exceeding above 10k and it's payment.
As per S 40(A)3 if expense is made more than Rs.10000 then it is disallowed.
As per S 269 ST you can make payment in cash upto Rs. 200000 in a single day, to same person, on same bill.
So in your case you can make payment upto 200000 in cash
actually it's done in last month so can't change now. Any other option to rectify this ?
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