86 cash - An Overview
86 cash - An Overview
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Rule 86B has gone through serious criticism from various stakeholders at any time Considering that the similar has long been notified by The federal government. It places a restriction on the quantity that may be made use of within the Digital credit ledger when building the payment of output taxes.
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Rule 86B limitations the use of enter tax credit history (ITC) accessible while in the electronic credit ledger for discharging the output tax liability. This rule has an overriding effect on all the opposite CGST Regulations.
Prosecutors assert the forfeiture is justified as the unnamed box holders had been engaged in felony activity. They have disclosed no evidence to assistance the allegation.
Q.nine When meaning to point out that refund within the previous economic yr must be more than one lakh, would the limit be calculated for all refunds taken collectively?
In the event the FBI wished to go looking the packing containers, the lawyers say, it initially required to meet the conventional for just a courtroom-issued warrant: Probable result in that evidence of precise crimes could be located.
While this rule has long been notified with the right intention in your mind, The federal government cannot assistance but deal with a find team of genuine taxpayers in addition within its ambit. An illustrative list of these taxpayers has become provided underneath:
e. no must pay out 1% using cash in latest thirty day period if registered individual has sufficient input tax credit history.
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Ans. The limit of 1% is over the output tax liability only. Reverse charge payments can't be regarded as payment of output taxes. Thereby, the limit of 1% will exclude the part of taxes that has been compensated under reverse cost.
If the countable gained money is a lot click here more than the TAFDC grant and you want to shut your circumstance, be sure to convey to your DTA employee before you decide to close your case, and that means you don’t pass up out on TSS.
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