Cash purchase for b2b goods over rs 10000

gekco (B.Com) (170 Points)

19 May 2018  

Hello Sir,

Can anyone clarify the rules for B2B buyers on Purchase of Goods in cash of more than Rs 10000. Because, we buy goods from many wholesalers from different cities of India and they ask for 100% payment in cash before giving Goods.

I know there is 2 lakh limit for "Sellers" but what is the rule for buyers on cash purchases of 30-40K in single day from one wholesaler.  Are our purchase bills valid or not ?

Thank You