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Question ID : 44485

SEC43B clause h from 01.04.2023

sir , could anyone explain new clause h inserted by FA2023, how it will be applicable and what is the scenario , if business entity has an agreement to pay the supplier say-90days , than , in such case will it be disallowed if paid after 45days.

Posted by RAM SAMARIA on May 13, 2023

Filed Under DIRECT TAXES

Answer ID : 85010

It is clearly stated that in no case the period agreed upon between the supplier and the buyer in writing shall exceed 45 days. Hence its disallowed

Posted by SURAJ KUMAR CHOUDHARY on May 17, 2023