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269 ST- FOR DEBTORS
I sold goods to mr.x as on 01.01.2019 Rs.1,50,000 and Rs.1,30,000 on 20.02.2019,,,and I received RS.1,80,000 on 25.03.2019 and Rs.1,00,000 on 27.03.2019 in cash, ..... so total amount received in cash from mr.x for the financial year 2018-19 is RS.2,80,000 ... whether it will come under violation of 269 ST
Replies (5)
No, provided the receipts are segregated as per the bills.
Since both the transactions are independent, section 269ST doesn't apply. So don't worry
not at all fall under 269st.
Sec 269 ST PROVISIONS STATES THAT cash transactions exceeding Rs.2 lacs are prohibited with a view to promote digital economy.
it prohibits any person to receive any amount in totality from a person in a day or a single transaction
in respect of transactions relating to one event or occasion from a person.
After introducing this section there are various representations from NBFC AND OTHER FINANCIAL INSTITUTIONS FOR PROPER CLARITY.
HOWEVER IN THE ABOVE CASE ,THE AMOUNT CAN BE SEGREGATED SEPERATELY IN TWO SEPERATE DAYS AND CAN BE DEPOSITED IN CASH .
it prohibits any person to receive any amount in totality from a person in a day or a single transaction
in respect of transactions relating to one event or occasion from a person.
After introducing this section there are various representations from NBFC AND OTHER FINANCIAL INSTITUTIONS FOR PROPER CLARITY.
HOWEVER IN THE ABOVE CASE ,THE AMOUNT CAN BE SEGREGATED SEPERATELY IN TWO SEPERATE DAYS AND CAN BE DEPOSITED IN CASH .
What are these above posts
This is not the forum for such nuisance posts
This is not the forum for such nuisance posts
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