06 November 2012
Yes I agree with Pooja but to receive payment against sales there is no limit but the person who is paying do have the problem as pointed by Pooja. Since in your case your selling the goods there is no limit. There are certain exemption to this like dealing in agricultural products, procurement at filed and so on. Anyhow,it is always advisable to receive and pay through cheque or DD
CAclubindia
