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Cash Sale Limit

Rahul Garg (17 Points)

09 February 2019

What Is The Cash Sale Limit in GST In One Day To A Particular Party?

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8 Replies

Kunal Pansari (Accountant) (1037 Points)
Replied 10 February 2019

2 lakh I guess. But to be in safe side, I suggest you to keep it below 10000. However for above 50000, you need to provide the buyer's PAN Number

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pritesh (CA Final student) (7101 Points)
Replied 10 February 2019

In Gst there is no limit..such limit is there only in income tax

KAAMIL AHAMADH (ACCOUNTING/TAX CONSULTANCY AND ITR/GSTR FILING) (253 Points)
Replied 10 February 2019

Hi !

There in no provision in GST which restrict the cash sale transaction.

But Cash Transaction is restricted by Income Tax Act as below:-

Section 269ST :- No person shall receive an amount of two lakh rupees or more—

(a) in aggregate from a person in a day; or

(b) in respect of a single transaction; or

(c) in respect of transactions relating to one event or occasion from a person,

otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account

Regards
KAAMIL AHAMADH

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Vinod Babu (24196 Points)
Replied 10 February 2019

No cash limit/s specified under GST act.

But the transaction comes under IT act, where 2 lakhs is the limit per day per person per bill/event. (sec. 269ST of IT act)

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manoj (student) (5205 Points)
Replied 10 February 2019

AGREE WITH VINOD

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Chandrakant Bendre (student) (312 Points)
Replied 10 February 2019

Agreed with experts.

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Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 11 February 2019

As such there is no limit in GST for cash sale But..... as per Rule 46 CGST Act , if taxable supply made to URD above 50k the Name, address & Place of supply is mandatory to be mention on Bill

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