Transporter fright by cash

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Pivate
1492 Points Posted on 17 October 2023
Sir,

we received the services from transporter invoice value of Rs. 30000/- can we pay cash to transporter Rs. 30000/- any resction in IT and GST

please suggest
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On 17 October 2023 at 07:26 Report
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Quick Summary
This discussion addresses the query about paying a transporter in cash for services valued at Rs. 30,000. The consensus is that paying cash up to Rs. 35,000 is permissible under the Income Tax Act, specifically concerning Section 40A, without disallowance as an expense. There are no GST restrictions mentioned for cash payments, though if GST is paid under RCM, ITC can be claimed.

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"Do the Right Thing...!!!"
128157 Points Posted on 17 October 2023
Yes, You can pay that 30k to transporter...
1 Reply
On 17 October 2023 at 08:14
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4156 Points Posted on 18 October 2023
Yes,

In my opinion you can pay cash to the extent 35K as i won't be disallowed as a Exps in computation of your PGBP under Section 40A of Income tax act

Thank you
1 Reply
On 18 October 2023 at 07:15
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Tax consultant
552 Points Posted on 18 October 2023
35000.00
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On 18 October 2023 at 10:10
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student
87 Points Posted on 21 October 2023
No restrictions in gst, if u pay gst under rcm than can claim itc
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On 21 October 2023 at 23:30
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Pivate
1492 Points Posted on 22 October 2023
Thanks to all of you
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On 22 October 2023 at 21:53

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