Question ID :
44602
118411
"A" is suppliers to "B" and A is registered under the MSMED Act, 2006.
As per written agreement between A and B, B is required to retain certain amount from bills of A and that retention is 12% of the bills amount without considering any indirect taxes.
A has furnished B a Udhyam Registration Certificate.
Now B will pay 88% of the bills to A and 12% retain and that retention shall be payable after 24 months from the date of receipt of goods.
Shall section 43B(h) apply to such retention upto 12% of the bill amount?
posted by
KETAN SHETH
on
Jan 27 2024 12:00AM