PURCHASES/ SALES OF AMOUNT MORE THAN 10000/ 2LACS
This query is : Resolved
17 May 2023
CAN A GALLA VYAPARI (MANDI BUSINESS) PURCHASE/ SALE GOODS OF MORE THAN 10000 / 2LACS IN CASH
17 May 2023
Less than the amount allowed for cash payment.
18 May 2023
THANK YOU SIR, BUT DID NOT GET YOUR ANSWER. CAN YOU PLEASE PROVIDE THE SOLUTION IN DETAIL? IT WILL BE VERY HELPFUL
18 May 2023
For cash payment for purchase should not exceed 10,000 and cash receipt for sale should be less than 2 lacs.
18 May 2023
THANK YOU SIR, IS BOTH THESE PROVISIONS APPLICABLE WHEN BUYING AGRICULTURE GOODS (LIKE MAIZE, WHEAT ETC.) FROM MANDI OR DIRECT FROM FARMERS?
18 May 2023
In both the case any cash sale of an amount of Rs. 2 lakh or more by a cultivator of agricultural produce is prohibited under section 269ST.
18 May 2023
and what about purchase? can we purchase goods from mandi or directly from farmer amounting more than 2lacs?
18 May 2023
Less than 2 lacs only allowed for purchase from Mandi and from farmers.
18 May 2023
OK THANK YOU SO MUCH SIR.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Nomination of Bank for refund in itr 2
- TDS Challan Code
- Relief u/s Section 89
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Entries in AIS regarding sale of units and shares
- Lease agreement and tax on sale
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
