The 86 cash Diaries

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Ans. The worth of all zero-rated provides like exports and supplies to SEZ will probably be excluded for calculating the Restrict of Rs. 50 lakhs.

c) The registered individual has been given a refund of much more than Rs. Just one lakh during the preceding economic yr under inverted duty structure

By way of this information, the author purports to research the provisions and its functional implications by answering the mostly asked concerns concerning this rule.

The indictment suggests U.S. Personal Vaults promoted alone to appeal to criminals who needed to retailer valuables anonymously and continue to keep tax authorities at bay.

e. RCM legal responsibility shall be discharged ONLY using e-cash ledger. Hence, utilization of ITC to discharge RCM liability is not permitted in the slightest degree, Hence the problem of imposing this kind of restriction shall not crop up

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d) The registered particular person has discharged his legal responsibility in the direction of output tax via Digital cash ledger in excess of 1% of full output tax liability utilized cumulatively upto the said month in The existing monetary 12 months

Deployment authorizations are created and accepted through the accounting Place of work, not the finance Workplace. Deployment vouchers Should be submitted within just five times of arrival. Vouchers are accredited inside the order where They can be received. Any returned voucher should have remarks for corrections. 

Frommer can be a senior lawyer for the libertarian Institute for Justice in Virginia, wherever he focuses primarily more info on complicated governing administration forfeitures.

On the other hand, the ITC obtainable inside the Digital credit score ledger could normally be entirely utilised for discharging the output tax liability. The new Rule 86B has limited using ITC harmony for paying out its output tax legal responsibility.

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