Purchase above 20000/-Cash payment
This query is : Open
Muthu Aravind
(Querist)
03 June 2010
One of Our client who is a distributor, purchase Milk from manufacturer Rs.200000/-through cash.whehther this amount can be allowed or not.(whether exception rule 6DD applicable in this case as a Dairy prduct) pls give me a clarification
03 June 2010
One of the exemptions as per rule 6DD exemptions, is payment in cash in excess of Rs.20,000 is admissible if its for the purchase of agricultural or forest produce or produce of animal husbandry or diary or poultry farming. Since purchase of milk is covered under diary, payment in excess of Rs.20,000 is allowed.
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