Limit of 5000

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2017 Dear Experts.
my turnover is below 20 Lacs also not having any interstate transaction Hence Not registered in GST

but i have heard that i cannot sale the goods in excess of 5000 per day.
pls do let me know is it correct...... what is the rule of this 5000

Thanks In Advance
Mukul Jain

CA Shubhanshu Jain

CA Shubhanshu Jain (Expert)
Follow

15 July 2017 No this is totally a rumor
Actually Government has prescribed limit of Rs. 5000 in case of purchase from unregistered dealer that means if registered dealer purchases from unregistered dealer in excess of rs. 5000 then he has to bear tax under reverse charge but there is no restriction of transaction to be made by unregistered dealer or with unregistered dealer
so don't worry there is no such provision which you are saying.

Message likes : 1 times