Cash sale to worker at subsidised rate

This query is : Resolved

ANIMESH PANDEY (Querist)
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15 February 2018 Dear Sir,
We are biscuit manufacturer , we have a policy to sale biscuit to our workers once in a month at subsidised rate . Csh sale value come around Rs.80000 per month.

(A)Now my questions are how we should account for this in our book?
1) Subsidised Debtor (Party) ----- Dr 80000
To sale

2) Cash ------- Dr 80000
To Subsidised Debtor (Party)

(B) Is their any law that restrict cash more than 2 lakhs in a year . Beacuse although per month sale is around 80000 but aggregate would go beyond 2 lakhs during the year.

RAJA P M

RAJA P M (Expert)
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15 February 2018 What is your actual rate of above said sales values...?
Is sale to one person or more...?

ANIMESH PANDEY

ANIMESH PANDEY (Querist)
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16 February 2018 Actual rate let say Rs.300 per cartoon . But we sale to our worker at Rs.220 per Cartoon . This subsidised sale price is available for all workers . In a month we make sale to around 200-250 workers

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