sir, I want to ask you , of how much amount we can issue sales/ tax invoices in cash(annually in aggregate). also tell what is the maximum amount for which invoices can be generated in cash(per invoice daily)?
Chahat Aggarwal (ipcc) (26 Points)
05 June 2017sir, I want to ask you , of how much amount we can issue sales/ tax invoices in cash(annually in aggregate). also tell what is the maximum amount for which invoices can be generated in cash(per invoice daily)?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160721 Points)
Replied 05 June 2017
No such limit for annum. Single bill for any person/party should not exceed 1.99 lakhs on any day. And similarly cash receipts of any such bill/s should not exceed 1.99 lakhs per DAY.
Similarly it is to be interpreted for any event, but such occassion happens rarely in retail trades.
CAclubindia
