Cash limit for farmer payment on direct purchase
This query is : Resolved
18 October 2020
Sir, who has made it a rule to buy from the farmer outside the market, is there a limit of Rs. 200000 in cash payment to the farmer or not, and if so, what documents do we have to take from the farmer at the time of purchase?
18 October 2020
CBDT vide Circular No. 27/ 2017 F. No. 370149/213/2017 –TPL specifically clarified that “any cash sale of an amount of Rs. 2 lakh or more by a cultivator of agricultural produce is prohibited under section 269ST of the Act”.
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