Cash Sale limit in FY 2017-2018

Page no : 2

T.Shanmugavel (Student CA IPC / IPCC) (23 Points)
Replied 28 November 2017

sir, we are trade in market. mostly we are sale in cash, maximum our daily sales Rs, 450000 and above in cash, but sale in diffrent buyers and single buyer cash sales bill value not exceed more than Rs. 180000. is this right or wrong? sir.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160721 Points)
Replied 28 November 2017

You should be able to justify your cash sales with bills and PAN of customers (having bills more than 50K) Also the records should match as per GST returns.

sanjay budhwani (2 Points)
Replied 07 February 2018

Kindly clear the cash sale limit to non register businessman

ROSHAN JAIN (2 Points)
Replied 10 July 2018

If I have to sell goods to a contractor ( i.e. purchaser is having GST number but he is not a trader) then how much Rs shall I accept in cash, upto Rs 2 lakhs or 10000? For a single transaction?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160721 Points)
Replied 10 July 2018

@ Roshan Jain ......... Rs. 2 lakhs maximum per day per bill (or aggregate of bills) as per sec. 269ST of I T act.

saikiran (Student) (283 Points)
Replied 06 February 2019

If the bill is 1,99,999 and all the amt paid in cash on 20 different dates not exceeding 10,000 per day,is there in violation of act, could u please explain my doubt sir