Dear sir,
I have purchased some goods of 46000 but payment has been made in 4 equal installment of 10000 and remaining 6000....
What will be the consequence under gst and income tax...pls clear me the exact picture....???
Can i vlaim input in my 3b...and how to show it in gstr1??.
pls help...
Under gst there is no issue regarding the transaction mentioned above...........
you can duly take input tax credit of the purchases if you have valid tax invoice
As far as Gstr 1 is concerned the above transaction has nothing to do with it, your supplier will mention this invoice in his gstr 1......
As per income tax act payment to a single person in a single day shall not exceed 10,000 as the amount is exact 10000 you need not to worry about it as well.......
CAclubindia
