Prashant Balkrishna Thanekar (Accounts Manager) (181 Points)
12 August 2017I have a query that CAsh payment limit is Rs.5000/- per day in GST Act is not applicable for GST.
My question is my payment is Rs.10000/- on a singly day: In that Rs.4000/- is stationery from unregistered dealer, Rs.5000/- is transporters payment & rs.1000/- for petrol .
Is it my cash payment is applicable for GST
D.P.Pattnaik
(manager( taxation))
(100 Points)
Replied 12 August 2017
In a single day if you have incurred total expenditure more than Rs.5000/- from URD then you are liable under RCM.
Neha Jain
(Chartered Accountant)
(1085 Points)
Replied 12 August 2017
Here URD expense below 5000 no RCM
RAMESH D MODI
(Proprietor)
(4869 Points)
Replied 12 August 2017
D.P.Pattnaik
(manager( taxation))
(100 Points)
Replied 12 August 2017
As pointed by Neha ji you do not have to make payment GST as the same day the value of purchase of stationery is less than Rs.5000/-.
CAclubindia
