07 September 2017
Cash sales to Registered dealer is 10k.
Cash Sales To URD less than 2lakhs. Above 50k collect his details... In case above 2lakhs to URD fall u/s 269ST Un IT...
10 September 2017
NO ANY LIMIT FOR CASH SALE IN GST ACT AND INCOME TAX ACT. BUT IF YOU AS A SELLER ARE UNREGISTERED IN GST AND SUPPLY (SALE) TAXABLE GOODS OR SERVICES TO REGISTERED DEALER IN GST , THAN SUCH REG.DEALER WILL BE LIABLE TO PAY GST UNDER RCM IF VALUE OF SUCH GOODS/SERVICES EXCEED RS 5000 IN A SINGLE DAY. EVEN UNDER INCOME TAX ACT, IF YOUR CUSTOMER IS LIABLE TO TAX AUDIT U/S 44AB OF I.T.ACT,1961, HE CANT PAID OVER RS 10000 IN CASH TO YOU FOR SALES MADE BY YOU TO HIM.
CAclubindia
