INVOICE FOR ITEMS ON GIVEN ON SCHEME AT RE. 1 OR FOR FREE

This query is : Resolved

ASHISH ARAT (Querist)
Follow

06 February 2023 DEAR SIR,

HOW TO INVOICE FREE ITEMS WHEN ONE IS REGISTERED DEALER? DOES IT ATTRACT 194R IF WE MAKE INVOICE?

BEST REGARDS,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

06 February 2023 Issue bill of materials in case of free supply
Tax invoice required for Re 1 supply

No TDS under section 194R to be deducted if: value does not exceed Rs. 20,000 in a financial year.

R. B. Yadav (CMA, LLB)

R. B. Yadav (CMA, LLB) (Expert)
Follow

06 February 2023 No need to issue Re. 1 invoice for free supplies as supply of free of cost is not supply under GST. Material can be moved on delivery challan.

Upgrade to CAclubindia Pro. Subscribe Now!