Cash Sale Limit



What Is The Cash Sale Limit in GST In One Day To A Particular Party?
 
Reply   
 
Accountant

2 lakh I guess. But to be in safe side, I suggest you to keep it below 10000. However for above 50000, you need to provide the buyer's PAN Number
 
Reply   
 
CA Final student

In Gst there is no limit..such limit is there only in income tax
 
Reply   
 

GST Certification Course


ACCOUNTING/TAX CONSULTANCY AND ITR/GSTR FILING

Hi !

There in no provision in GST which restrict the cash sale transaction.

But Cash Transaction is restricted by Income Tax Act as below:-

Section 269ST :- No person shall receive an amount of two lakh rupees or more—

(a) in aggregate from a person in a day; or

(b) in respect of a single transaction; or

(c) in respect of transactions relating to one event or occasion from a person,

otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account

Regards
KAAMIL AHAMADH

Total likes : 1 times

 
Reply   
 

No cash limit/s specified under GST act.

But the transaction comes under IT act, where 2 lakhs is the limit per day per person per bill/event. (sec. 269ST of IT act)

Total likes : 1 times

 
Reply   
 
student

AGREE WITH VINOD

 
Reply   
 

Agreed with experts.


Total likes : 1 times

 
Reply   
 
GST Practitioner

As such there is no limit in GST for cash sale But..... as per Rule 46 CGST Act , if taxable supply made to URD above 50k the Name, address & Place of supply is mandatory to be mention on Bill

Total likes : 1 times

 
Reply   
 

good clarification
 
Reply   
 

LEAVE A REPLY

Your are not logged in . Please login to post replies

Click here to Login / Register  

 


×

  CCI MENU