Cash sale to worker at subsidised rate
This query is : Resolved
ANIMESH PANDEY
(Querist)
15 February 2018
Dear Sir,
We are biscuit manufacturer , we have a policy to sale biscuit to our workers once in a month at subsidised rate . Csh sale value come around Rs.80000 per month.
(A)Now my questions are how we should account for this in our book?
1) Subsidised Debtor (Party) ----- Dr 80000
To sale
2) Cash ------- Dr 80000
To Subsidised Debtor (Party)
(B) Is their any law that restrict cash more than 2 lakhs in a year . Beacuse although per month sale is around 80000 but aggregate would go beyond 2 lakhs during the year.
We are biscuit manufacturer , we have a policy to sale biscuit to our workers once in a month at subsidised rate . Csh sale value come around Rs.80000 per month.
(A)Now my questions are how we should account for this in our book?
1) Subsidised Debtor (Party) ----- Dr 80000
To sale
2) Cash ------- Dr 80000
To Subsidised Debtor (Party)
(B) Is their any law that restrict cash more than 2 lakhs in a year . Beacuse although per month sale is around 80000 but aggregate would go beyond 2 lakhs during the year.
15 February 2018
What is your actual rate of above said sales values...?
Is sale to one person or more...?
Is sale to one person or more...?
ANIMESH PANDEY
(Querist)
16 February 2018
Actual rate let say Rs.300 per cartoon . But we sale to our worker at Rs.220 per Cartoon . This subsidised sale price is available for all workers . In a month we make sale to around 200-250 workers
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