86 cash - An Overview
86 cash - An Overview
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discharged the legal responsibility subsequent rule 86(B) in the credit history ledger instead of cash ledger. am i accountable for interest if paid discharged by means of cash ledger later
The FBI seized it, rejected his requests to return it and is now going to confiscate it with no rationalization.
Ans. The limit of one% is to the output tax liability only. Reverse cost payments cannot be considered as payment of output taxes. Thus, the Restrict of one% will exclude the portion of taxes which has been paid less than reverse cost.
“It will likely be tough for my relatives and me to stomach problems or loss of the vast majority of things in my box,” Paluch wrote within an e mail.
Box holders who fall short to say their assets in the following couple weeks will routinely lose it. People that obstacle the confiscation have two options.
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My level is my ITC is fewer than Rs.1 Lac, I paid out comprehensive tax payment employing ITC as higher amount of tax was paid out to Customs. New registration under GST, continue to I have to shell out 1% GST by means of Cash or There may be any way This may be safeguarded.
Thereby if in any month, the limit of Rs. 50 lakhs just isn't crossed nevertheless the turnover is a lot more than Rs. 6 crores inside of a financial calendar year, Rule 86B will not should be complied with.
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