I issued invoice

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self
289 Points Posted on 07 November 2020
sir/mam
i am registered person under gst law under as a regular scheme & i am running a business recently i issue an invoice to my registered party of 72000.
& they are making their payment via cash.
should i have to receive that cash?
pls let me know with explain.
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On 07 November 2020 at 20:26 Report
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Quick Summary
This discussion addresses whether a GST-registered individual operating under a regular scheme can accept a cash payment of £72,000 for an invoice issued to a registered party. The consensus is that receiving cash is permissible, with the advice to obtain a receipt and subsequently deposit the funds into your bank account.

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Accountant
3662 Points Posted on 07 November 2020
Yes, you can
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On 07 November 2020 at 22:55
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Tax consultant
5895 Points Posted on 08 November 2020
Yes you can
ask them for receipt
and latter you deposit that in your bank account in thier name
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On 08 November 2020 at 00:23

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