Dear Sir,
In one of our limited co.they are buying goods from URD and sale with Gst on online portal .all receipts are in bank.
limit for the cash purchase and URD purchase ??
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Limit for Goods purchased from URD in cash by a limited company and sold with GST on bank receipt
Replies (9)
No more limits under GST for purchase from URD and Cash Payments to URD.
But,
In income tax cash dealing is restricted as less than 10k in one day & less than 2lakhs in a FY to a person..
But,
In income tax cash dealing is restricted as less than 10k in one day & less than 2lakhs in a FY to a person..
Yes ,agree with Raja Ji..... there is no limit for purchase from URD , but need to issue Payment Voucher as per Section 31(3)(g) for the same.
Cash payment voucher should we have to issue in case of urd purchase in cash ?
sir pankaj Rawat
sir pankaj Rawat
Yes.... It's better to prepare cash voucher for Cash Purchase of supply from URD.
Sir ....is e-invoice is mandatory for annual turnover is 5 crore ??
Pls tell me about it
| Originally posted by : Allauddin patel | ||
 |
Sir ....is e-invoice is mandatory for annual turnover is 5 crore ?? Pls tell me about it |
 |
No more clarity... It's now Voluntary basis. Wait on further notifications.
Dear Allauddin
as per notification 70/2019 CT , its applicable on Taxpayer whose Aggregate turnover for the fy Exceeds Rs .100 crore.
Effective from 1.4.2020
Pankaj Rawat ....
We purchase cotton from urd and pay him in cash Rs100000 or Rs190000 like this according to the urd purchase bill .....
So it okay to do so ?
Like that we purchase cotton from 9 to 10 urd and pay him cash in different dates ....
Sir pls bataye kya ye sahi hai aisa payment kya hum kar sakte aur kya koi problem create hogi aisa karne se ?
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