Cash sales

This query is : Resolved

Rakesh Sharma (Querist)
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14 April 2016 Dear Experts,

One of my friend is running a proprietor concern & selling some goods in cash in a single day i.e. Rs. 42,500/- on dtd. 04-04-2016, Rs. 24220/- on dtd. 06-04-2016 & Rs. 33140/- on dtd. 11-04-2016 to a local party who has not registered in Sales Tax. Can we do the same? Is there any obligation? Purchaser has not any PAN.

PLease advise

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 April 2016 There is no problem in cash sales for seller under any vat act. problem have to be faced by the party who is not registered under vat act who is liable to get registered and doing high cash purchases.

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