Forum GST Cash bill limit in GST?

Cash bill limit in GST?
P. jagannath rao
watch_later 09/10/17

GST cash bill limit and cash received against one bill how much is allowed?

2 Responses | Latest response: 12/10/17 | Sort by Likes(thumb_up) Recent | GST Reply
GST Payer
watch_later 09/10/17
thumb_up 0 thumb_down

There is no limit of cash bill in GST. You can issue tax invoice for any amount and receive money in cash.

However you have to comply with income tax provisions whenever cash is involved.

Reply
The CA Mayank Kothari
watch_later 12/10/17
thumb_up 0 thumb_down

you have to see the income tax act so amended after demonetisation under finance act 2017 which states that no person shall receive an amount of ruppees  two lakh rupees or more in aggregate from a person in a day.  So you have to considered the above thing also...

 

 

 

Reply
JOIN LARGEST DISCUSSION PLATFORM

Sign up to discuss taxation, accounting and finance topics with experts from all over India.

Join Discussion
add New Topic