Cash Sale Limit



What Is The Cash Sale Limit in GST In One Day To A Particular Party?
 
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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
 
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In Gst there is no limit..such limit is there only in income tax
 
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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

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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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student

AGREE WITH VINOD

 
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Agreed with experts.


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ACCOUNTS PROFESSIONAL

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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