Our dealer issue tax invoice (credit) to his buyer value of Rs. 98400/- (both are Gst Registered Regular Dealer) and collected the amount vide cash receipt for value of same amount Rs. 98400/- (in single receipt)
Is it correct procedure as per it act?. in the circumference of cash transaction restricted above Rs. 10000/-
We request you to kindly explain about cash transaction restriction in Income Tax Act.
Panruti – 607 106.
Cell 93607 95152
Dear Mr K Sivaprakasam
Income Tax and GST Practitioners
Thank you sir,
You must be logged in to reply to this topic.