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Question ID : 44380

Cash receipt

The Tax payer is selling goods with Invoice and uplaidng invoice in GST portal . The customer is paying by cash only. Kindly guide whether is there is restriction in accepting cash and any limit.

Posted by samirkumar gokulbhai kasvala on Dec 07, 2022


Answer ID : 83837

2 lakh per bill. one should not accept cash exceeding 2lakh.

Posted by VINAY BHARGAV KUMAR G on Dec 07, 2022
Answer ID : 83838

For full details you may refer sections 269ST and 271DA of the Income tax Act,1961.

Posted by B.CHACKRAPANI WARRIER on Dec 08, 2022
Answer ID : 83841

The cash receipt against sale should not exceed Rs. 2 Lakh per bill as per section 269ST.

Posted by CA. chunauti dholakia on Dec 09, 2022