A meeting was held by the executive body of the HPMA (Haryana Plywood Mfr Association) on 10-6-2019 at Hotel Daawte Plaza, Yamunanagar at 6 pm.
After discussion, Mr J.K. Bihani, President of HPMA concluded, ” Our inputs are payable on cash basis, therefore, our sale proceeds should also match this to maintain an equilibrium of payment and receipt.”
It was resolved that
- Sales shall be on the basis of ‘Cash and Carry’. However, where there are old established credits terms with buyers in such cases the credit period shall not exceed 30- days from the date of Tax Invoice/Bill of supply.”
- “Resolved further that henceforth all remittance charges shall be borne by the purchaser of goods.”
Members are requested to follow the above decision as uniform trade practice and inform accordingly to the channel partners down the line.