What is meant by the limit of 5000/- for reverse charge. Will someone kindly explain. Does it mean 5000/- from one party within one year, or is it one bill of 5000/- and there can be any number of bills of 5000/- or less in a year, and payments fro the same.
I am an accountant and am receiving fees which are less than 5000/- in a month from cleints. So i can get equal monthly payments and there will not be any reverse charge payable by my client.
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