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Regarding annual sales.
Sir I am an gst holder and made the sales a sum of Rs 259500/- in a year vide its verious bill No!s and verious dates.Sir I have received the said amount of Rs 259500/-in the installment of 10000/-.Sir I want to know that I am liable to penalized under section 269ST in respect of amount received in cash comes to rs.more than 2.00 Lac.Thanking you.
Replies (4)
No, problem you have been received cash upto 200000 rupees in a single day and cash payment should be 10000 rupees in a single day
No penalty will attract in ur case
Sir the above said sales was made to a single person/ firm and amount received from the single person .
If bills issued by u are for separate transactions then no problem. but if a single transaction of 259500/- and bills are splitted in smaller amount, then penalty shall attract.
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