Cash deposit and doing rtgs by cheque


This query is : Resolved 

Quick Summary
This discussion explores whether repeatedly depositing cash sales daily and then making RTGS payments via cheque for supplier payments, while registered for GST, violates income tax rules. The consensus suggests it's permissible as long as each individual cash sale is below £2 lakh, and all cash bills are properly accounted for in GST filings.

07 February 2024 If i am register in gst and i have only cash sale . In case if every time whenever i have to make to my supplier , i deposit cash same day and do rtgs of equivalent amount .but rtgs via cheque And this is repeatedly done .Is it a voilation of any income tax rule . I have shown cash bills in gst also .

07 February 2024 As per me no issues. But, keep regards for the cash transactions for future reference...

07 February 2024 More opinions by experts?

07 February 2024 No violation each cash sale should be less than 2 lacs.


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