Cash payment

This query is : Open

SUDHAKAR GOYAL (Querist)
Follow

20 May 2018 Sir. Iam business man . I have purchased a goods from one registered seller of Rs-150000,180000 and 190000/ on different on .Total goods I purchased from him of Rs-520000/ .Now I want to pay it in cash. I paid him of Rs-10000 per

day for whole amount of Rs-520000/ . Can I do it .

Please reply

RAJA P M

RAJA P M (Expert)
Follow

20 May 2018 Yes... You can. Applicability of Section 269ST in different situations If one party sells goods to another of Rs 3,00,000 through different bills and cash is received in a day of Rs. 3,00,000 then section 269ST is violated and penalty under section 271DA of Rs. 3,00,000 is imposed. If one party sells goods to another of Rs. 3 lakh through a single bill and cash is received of Rs. 2,20,000 on different days then section 269ST is violated and penalty under section 271DA of Rs. 2,20,000 is imposed. If one party sells goods to another of Rs. 3.5 lakhs through two bills of Rs. 1.75 lakh each and cash is received on different days in respect of each bill then section 269ST is not violated.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

DURGA TANDEL

6380177036

Vivekanand Sagar

Krishnamohan Gangaraju

kesav

Subscribe Now

Cash payment

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Accountant

CA Final

GST CONSULTANT

Article Assistant