Section 269st

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shivam jain (Querist)

22 June 2018 there was a bill of 5Lakh for sale in F.Y 2015-16..............now cash is received rs 150000,150000,150000,50000 in 4 installments ........(means for the same transaction ) .......whether it would be violation of section 269ST since transaction was of the different F.y ???????

RAJA P M

RAJA P M (Expert)

22 June 2018 As per my view and understanding.,
The said sec ;

Rules of section 269ST to imposes the restriction of cash receipt from one party in a day:

The section applies to any transaction between single parties in a single day. It doesn’t apply to multiple entities and/or multiple transactions.

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Please wait on replies from Our CCI experts and Views & I tick it as "OPEN" query

Nikhil Kaushik

Nikhil Kaushik (Expert)

22 June 2018 given that the section also applies amounts received in respect of a single transaction - in this case being a single invoice, these payments will attract 269ST

shivam jain

shivam jain (Querist)

22 June 2018 Means violation of 269ST ???

Nikhil Kaushik

Nikhil Kaushik (Expert)

23 June 2018 yes. it would violate 269ST

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