Credit sales of Rs196500/

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A business made credit sales totalling Rs. 196,500 during the financial year 2015-2016. The customer now wishes to settle this outstanding amount in full via cash payment. The query seeks advice on whether accepting this cash payment is permissible. The consensus is that accepting the cash payment is indeed possible.

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(Querist)
11 June 2021 We have made credit sales of Rs196500/ during FY 2015-2016.Now the party wants to give the full payment in cash. Can we accept cash now from the party? Pl advise.
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Ganeshbabu K

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Ganeshbabu K (Expert)
11 June 2021 yes you can collect cash,
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ARUN GUPTA

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ARUN GUPTA (Querist)
11 June 2021 Can we receive cash at one time 196500.pl advise?
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CA Altamush Zafar

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CA Altamush Zafar (Expert)
11 June 2021 Yes you can do so.........
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