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Cash Sale Limit

Rahul Garg (17 Points)

09 February 2019

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

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8 Replies

Kunal Pansari (Accountant) (1037 Points)
Replied 10 February 2019

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

pritesh (CA Final student) (7101 Points)
Replied 10 February 2019

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

KAAMIL AHAMADH (ACCOUNTING/TAX CONSULTANCY AND ITR/GSTR FILING) (253 Points)
Replied 10 February 2019

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

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Vinod Babu (24191 Points)
Replied 10 February 2019

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)

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manoj (student) (5205 Points)
Replied 10 February 2019

AGREE WITH VINOD

Chandrakant Bendre (student) (312 Points)
Replied 10 February 2019

Agreed with experts.

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Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 11 February 2019

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

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