if one sells goods worth rs 4,50,000 through three different bills three different days of Rs 1,50,000 each to one person and accepts Cash each day rs 50000 9 days
in this case violated 269 st ????
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269 st violated???
Replies (3)
Quick Summary
Deposition no curb on selling. mode of deposition in bank.
Single Invoice multiple payment and Single payment multiple invoice in cash not allowed
Rs 4.5 lakh sale split into three bills paid in cash:
• Sec 269ST bars receiving Rs 2 lakh or more in cash "in respect of a single transaction". If the Rs 4.5 lakh sale is one transaction split into three bills (Rs 1.5 lakh each) on different days, the department treats it as a single transaction. Receipt in cash totalling Rs 4.5 lakh violates 269ST. Penalty equal to the amount received (Sec 271DA), on the receiver.
• If the three sales are genuinely separate transactions (different goods, different dates, separate orders), each is below Rs 2 lakh, and no violation arises. Facts and documentation matter.
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