Sir
Our logistics company daily releases 4 to 5 truck for long destination.At the time of release the vehicles we have to make cash payments more than ₹ 10000/- in advance against the Lorry Challan. Now i would like to know what will be the consequence as we cross the threshold limit of ₹ 10000/?
With thanks
Samik Chaudhuri.
Cash payment threshold may trigger tax and compliance consequences when routine advance transport payments exceed prescribed limits. A logistics company makes daily advance cash disbursements exceeding the stated cash payment threshold when releasing vehicles against lorry challans, raising whether routinely paying above the cash limit for transport-related advances triggers tax or compliance consequences and what documentation or alternative payment requirements may apply. (AI Summary)