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cash query

16 August 2017

undr 269st cash is allowd less than 200000 my qury is in a day its allowd or from custmr total 200000 allowd in a year suppose a custmr taking goods today from me total invoice amount is 96000 he s paying cash aftr 3 days same custmr taking goods invoice amount 125000 paying cash so i am alowd to take cash

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2 Replies

RAMESH D MODI (Proprietor) (4869 Points)
Replied 16 August 2017

in this case yes. Restriction if for single transaction .

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CAROUNDTHECLOCK (CEO) (60 Points)
Replied 16 August 2017

Its not dependent on time, but on a particular transaction. Restriction of 200,000 is for a single transaction. So in your case, if sale of goods was a single transaction (which can be evidenced from same Invoice/Sales Order), then you cannot accept cash more than 200,000. Alternatively, if sale of goods was against different sales orders/invoices with different T&C's, then you can accept cash in your case.