Credit Bill
This query is : Open
17 April 2017
If Mr. X sells goods on credit to Mr. Y for an amount of Rs. 100000. Does it fall in the ambit of 269ST or T as this transaction amounts to giving loan. Also can Mr. X collect cash from Mr. Y in installments of 20000 on various dates and issue cash receipts for 20000.
17 April 2017
It will not cover u/s 269ST as the goods are sold on credit. It is not a loan also. X can collect payment in cash of Rs 20000/- on various dates. since the amount of goods sold is not equal to or more than Rs 2 Lakhs, even if single bill is issued it will not violate section 269ST.
17 April 2017
thank you very much Mr. abhishek goyal
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- REGARDING ACCOUNTING CODE FOR SERVICE TAX PAYMENT
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
