What Does 86 cash Mean?
What Does 86 cash Mean?
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♦ For anyone who is a genuine tax payer Then you can certainly implement towards the commissioner or authorised officer with
“They went on a fishing expedition,” Paluch claimed. “They painted us all with this broad brush as criminals.”
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Ans. A person will not should cumulatively calculate the taxable supplies by merging values of the earlier month. One particular really should only locate the taxable supplies of the current month to determine if it exceeds Rs. fifty lakhs. If Of course, 1 should adjust to this provision.
Inverted tax construction supply :- Where by tax charge on input is larger compared to tax charge on output ensuing into accumulation of ITC, Consequently refund is allowed and rule 86B is not really applied.
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My issue is my ITC is under Rs.1 Lac, I paid full tax payment using ITC as higher amount of tax was compensated to Customs. New registration underneath GST, even now I must shell out 1% GST through Cash or there is any way This may be safeguarded.
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Rule 86B has gone through significant criticism from several stakeholders at any time For the reason that exact has been notified by The federal government. It places a restriction on the quantity which may be employed through the electronic credit ledger whilst creating the payment of output taxes.
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