Expenses Limit ₹ 5000/-

[Davinder Singh]

Dear Sr,

Kindly share the above limit TO BE ALLOWED WITHOUT GST REVERSE CHARGE CAN BE BOOK AS EXPENSES. WHAT IS THE CONDITION for THE LIMIT e.i. ALL EXPENSES PER DAY OR ONE EXPENSES PER DAY OR ONLY APPLIED ON CASH EXPENSES OR CREDIT EXPENSES,

KINDLY REVERT

AI Summary

GST Reverse Charge: Debate on 5000 Expense Limit for Daily, Individual, Cash, and Credit Transactions A discussion on the Goods and Services Tax (GST) addressed the applicability of a 5000 expense limit without triggering GST reverse charge. Participants debated whether this limit applies to daily expenses, individual expenses, or both cash and credit transactions. One participant stated that expenses exceeding 5000 from registered buyers in a day would incur GST. Another clarified that supplies from any supplier should not surpass 5000 in a single day. There was uncertainty about whether the limit includes freight payments and whether it applies to both registered and non-registered persons' bill amounts.