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.
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.
CAclubindia
