Sft in form 61a for jewellery business u/s 114e

durgaprasad (accounts executive) (225 Points)

25 May 2017  
In the jewellery sector the threshold limit for consideration of cash Rs.500000/- and bullion is Rs.200000/- on last year . There was a change in the Finance bill 2017. AS per the 206C finance bill 2016 , we collected the cash amount of Rs.400000/- for sale of jewellery . TCS was not attract @ 1% on the transaction for AY 17-18. Now we preparation of the SFT-13 for form 61a , it was mentioned the receipt of payment of sale/purchase more than cash Rs.200000/- for goods and services. (1) This section is applicable for goods and services only or if effected of the jewellery sector. (2) If effected, we were collected the cash amount of Rs. 400000/- on the last year as per 206C. What will do for the submission of SFT Form 61a. (3) TCS cap has removed for FY 2017-18 for jewellery sector or not. Give your valuable suggestions regarding my Query !!!