What Does 86 cash Mean?

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discharged the liability next rule 86(B) from the credit score ledger as opposed to cash ledger. am i responsible for interest if paid out discharged through cash ledger later

Following dealing with the above limitations and exceptions released by Rule 86B, it is clear that the above mentioned rule is relevant only to the massive taxpayers. There will be no effect on micro and compact corporations. 

Ans. It has been clearly delivered the Restrict is for refund gained in the previous monetary calendar year regardless of the time period for which the refund were claimed.

Ans. Let's believe the next instance so as to ascertain the applicability of Rule 86B for thirty day period of January 2021:

Should the registered human being under issue has discharged his legal responsibility in the direction of output tax by Digital cash ledger for an sum in surplus of 1% cumulatively of the whole output tax legal responsibility up to your stated thirty day period in the current fiscal yr.

TLA is looked after at the housing Business. If claiming TLA from a preceding overseas duty spot, it should be looked after at that responsibility station and not Ramstein

d) The registered person has discharged his liability to output tax by electronic cash ledger in excessive of 1% of overall output more info tax liability utilized cumulatively upto the explained thirty day period in The existing fiscal 12 months



Speedy Bank loan Immediate highlights the significance of an unexpected emergency fund and brief economic solutions for quick requires.

 DTA has an unwritten coverage of not having to pay TSS when the grantee can be an ineligible noncitizen. E mail [email protected] for assist.

My point is my ITC is a lot less than Rs.one Lac, I compensated complete tax payment utilizing ITC as larger quantity of tax was paid out to Customs. New registration below GST, continue to I need to spend 1% GST by Cash or There may be any way This may be safeguarded.

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