SALES
AND STATISTICS
THE MAHARASHTRA STATE CO-OPERATIVE COTTON GROWERS'
MARKETING FEDERATION LIMITED
| NO:CTN/SS/Cash Discount/2001-02/3561 | Date:
05-12-2001 |
CIRCULAR
Sub:Cash
Discount for Advance payment.
Ref: Jt. MD's Circular No. CTN/SS/Cash Discount/2001-02/3489
Dt.3-12-99
In order to imporve liquidity a policy decision has been taken by the Federation, to give cash discount to the buyers who are making payment in advance for the cotton purchased by them. The instructions have been already issued vide circular mentioned above. It has been brought to the notice that, if the payment is made by D.D. In this case as the equivalent amount is debited to the account against purchased DD. Taking into consideration the facts it has been now decided that the cash discount will be available from the date of presentation of DD/ date of receipt and not form the date of realization of DD as mentioned in our above referred circular. However in case of cheque the above circular is still valid.
Jt. Managing Director.
