1 Vyakti ko pure saal me cash me kitna maal bech sakte hai ??
Mukesh Kumar Sharma (Manager) (122 Points)
10 April 20171 Vyakti ko pure saal me cash me kitna maal bech sakte hai ??
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(176815 Points)
Replied 10 April 2017
No limitation. Only not above 1.9999 lakhs per person per day/invoice.
Dixit
(CA Final)
(2405 Points)
Replied 10 April 2017
An amendment to this effect has been made in the Finance Bill, 2017, which has been approved by the Parliament.
“No person (other than those specified therein) shall receive an amount of Rs 2 lakh or more, in aggregate from a person in a day; in respect of a single transaction; or in respect of transactions relating to one event or occasion from a person, otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account,” the department said.
Dixit
(CA Final)
(2405 Points)
Replied 10 April 2017
No limit for sale of goods in cash. But limit is there for accepting cash more than 200000 per day. Means you can not accept cash more than 200000 a day.
Mukesh Kumar Sharma
(Manager)
(122 Points)
Replied 10 April 2017
Dixit
(CA Final)
(2405 Points)
Replied 10 April 2017
Originally posted by : Mukesh Kumar Sharma | ||
Currently I am a accountant of a Gas Agency and there is refill sales of cylinder to thousands of customer... in that position I can't manage every customer ledger.. than What I show in sales books during refill entry in cash of the day more than 2 lacks.... |
cash transaction limit is for per day per person. Means you can received cash from more than one person.
Mukesh Kumar Sharma
(Manager)
(122 Points)
Replied 10 April 2017
Mukesh Kumar Sharma
(Manager)
(122 Points)
Replied 10 April 2017
Dixit
(CA Final)
(2405 Points)
Replied 10 April 2017
Originally posted by : Mukesh Kumar Sharma | ||
because entry of refill sale is in cash |
For that you can enter single transaction in your books. I know it is not possible, but only way is this.
roopa
(b.com)
(364 Points)
Replied 10 April 2017
Mukesh Kumar Sharma
(Manager)
(122 Points)
Replied 10 April 2017
roopa
(b.com)
(364 Points)
Replied 10 April 2017
Dixit
(CA Final)
(2405 Points)
Replied 10 April 2017
Originally posted by : roooo | ||
I think u can show its as cash sales only...as limit is per person per day ..cash A/C dr sales A/C experts plz tell whether it's correct or no |
Yes you are right. But you can not aggregate all cash sales and made single entry. Beacause that count as a single transaction.
There are option to overcome this is import all transaction through excel sheet into tally or other software. Generally most of software provided this facility.
roopa
(b.com)
(364 Points)
Replied 10 April 2017
Mukesh Kumar Sharma
(Manager)
(122 Points)
Replied 10 April 2017
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India