dear experts
inform me what is the cash sales bill limit in income tax and gst,
traders is sales to direct customer so everyday cash is generate
There is no Cash Sale limit under GST ( CGST Act 2017 ).
However Provision for Cash Sales and Cash Payment is restricted to certain amount as per the Income Tax Act 1961.
As per Section 40A(3) of the Income Tax Act 1961, CASH PAYMENT exceeding Rs. 10,000 is disallowed under the Income Tax Act 1961 ( under PGBP ).
As per Section 269ST of the Income Tax Act 1961, A person can accept Cash Receipts ( Cash Sales ) upto Rs. 1,99,999 per day.
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