GST related information

Hello Good Evening Everyone

1.Sir mera question hai gst se related ki agar mujhe kisi ko cash ka bill katna hai sales ka jis ke pass GST registration number nahi hota hai toh mein kitna tak ka kaat sakta hu.

2. Aur mere second question yeh hai ki agar mujhe kisi ko cash mein payment karni hai toh kitne Tak ki kr sakte hu.

3. Aur mera akhir questions yeh hai ki agar mujhe koi person cash main koi payment karta hai toh kitne amount tak mein cash receipt kar sakte hu.

Thank You In Advance Everyone.
Replies (7)
Quick Summary
This discussion clarifies cash transaction limits related to GST and Income Tax. For GST purposes, there's generally no limit on issuing cash bills or receiving cash payments. However, Income Tax law restricts cash payments and receipts to ₹10,000 per person per day. For larger transactions, it's permissible to receive cash up to ₹2 lakh in a single financial year from one person, spread across different days if necessary.

1. No limit

2. upto 10000

3. no limit
1. There is no limit prescribed in GST.
2. 10000/- in one day from one person (Income tax law)
3. upto 2 lac from one per in fy
If invoice is Rs 3 lakhs can we raise cash receipt of Rs 1.5 lakhs in 2 different accounting years

Please correct yourself..... 2 lakh cash received in a day is allowable from one person

For invoice of Rs 3 lakhs raised in March 23 can we take Rs 1.5 lakhs cash in 2022-23 and rest in 2023-24
Originally posted by : D MOHAN GIRIMAJI

For invoice of Rs 3 lakhs raised in March 23 can we take Rs 1.5 lakhs cash in 2022-23 and rest in 2023-24

you can take cash on any single day up to 2 lakhs & remaining on another day in a same f.y. 

 

YOU CANNOT ISSUE THE CASH RECEIPT OF RS 10000/- FROM ONE PERSON IN A DAY

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