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
Filed Under
DIRECT TAXES
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