SALE OF COMMERCIAL VEHICLE
This query is : Resolved
Quick Summary
Shalini RN
(Querist)
19 July 2023
Can we accept cash on sales of commercial vehicle from purchaser (we being goods transport agent). Purchaser is an individual and has no GST registration and he intends to pay full amount in cash and will be paying in instalments. Can we accept his proposal and if there is any limit on such transaction, how much can we accept in cash.
Thank you
Thank you
CA R SEETHARAMAN
(Expert)
19 July 2023
Less than 2 lacs cash can be accepted.
Balance ask for DD or cheque.
Balance ask for DD or cheque.
Shalini RN
(Querist)
19 July 2023
Thank you Sir. And if he wants to pay at least Rs.1.5 lacs in cash and in instalments, how much per instalment we can collect.
CA R SEETHARAMAN
(Expert)
19 July 2023
Instalment not allowed it's a single event.
Shalini RN
(Querist)
19 July 2023
OK Sir, Thank you very much
CA R SEETHARAMAN
(Expert)
19 July 2023
You are welcome...
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