Is there any provision saying Input cannot be claimed from Cash purchases made ?
7 Replies
CA PREM KUMAR
(Chunduru & Co)
(296 Points)
Replied 29 July 2019
unless buyer gst number is quoted on the invoice and a person cannot claim gst. there is no such condition of cash.
P M Panchal
(other)
(291 Points)
Replied 29 July 2019
Only under IT act, there is condition of cash purchase of more than Rs. 10,000/- is disallowed. No ITC loss under GST.
Shivam RC
(Student)
(23683 Points)
Replied 29 July 2019
No such condition is applicable under GST Law.
It is applicable in case of Income Tax Act 1961. Section 40A(3) of the Income Tax And 1961 states that Cash Purchase exceeding Rs.10,000 would not be allowed as deduction under PGBP.
Warm Regards.
It is applicable in case of Income Tax Act 1961. Section 40A(3) of the Income Tax And 1961 states that Cash Purchase exceeding Rs.10,000 would not be allowed as deduction under PGBP.
Warm Regards.
Recent Topics
- Tds or tcs on foreign remittance to india as a rei
- What is Current Taxation of 100 % Debt Mutual Fund
- ITC of RCM LIABILITY PAID in GST Annual Return
- RCM rent for composition dealers
- ITR filing for non resident in one FY
- 2 buyer form 26qb
- CFS INCLUDING MAURITIUS SDS
- Tds on rent paid to two persons
- GST R-9 Turnover
- ITC wrongly Taken in GST 3B
Related Threads
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
