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Q. > Please Help: Sec 269ST
Whether the Cash Transaction limit of less than Rs 2 Lakhs from a Single Party, as governed by Sec 269ST is the limit of a single bill or aggregate of all the bills raised to a Party during the Whole Year?
Certain People are having query that they can do cash business (Sales) with a Single Party of a limit of less than Rs 2 Lakhs, irrespective of no of bills issued during the whole year.
Please Clarify.
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Rambabu Senkarasetti
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CA Satuti Mahajan
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Rishabh Upadhyay
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Ashish Karundia
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Mrattunjay
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PRIYANKA
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CA. SURESH Kr. AGARWAL
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Vaneet Gupta
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Ketan Samdani
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Comments
Manish jain
14-Jun-2017 , 11:03:14 amsection is attracted for 2 lakh or more recieved from single person on single day, it is not applicable for whole year. it is to seen on day basis
CA Manali Jain
14-Jun-2017 , 12:45:45 pmthe section is attracted when you receive more than 2 lakh from a party in a single day (irrespective of number of bills) and it will be also attracted when for a single bill of more than 2 lakh the payment is received in cash in different installment during the whole year
neeraj a gangwani
14-Jun-2017 , 04:18:58 pmsingle bill of Rs.2.00 lacs covered. aggregate of all bills raised to a party during whole year also covered.