Fascination About 86 cash

Fascination About 86 cash

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Applicability: This rule is applicable to registered individuals owning taxable worth of offer (aside from exempt source and zero-rated offer) in per month that is in excess of Rs.fifty lakh. The Restrict should be checked each month in advance of submitting Just about every return.

♦ Provision commences with non-obstante clause :- which means the provision specified in this rule will prevail

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c) Scrutiny of returns: Scrutiny of returns can be carried out by the appropriate officer to validate the correctness in the return According to Area 61 of the CGST Act 2017. Thereafter, the discrepancies are communicated towards the taxpayer for trying to find explanation. Non-payment of mandatory one% cash element can catch the attention of the Division’s attention by way of this portion.

Ans. You will discover many entities throughout India which have interaction in phony invoicing i.e. difficulty of invoices without having genuine supply of goods and / or services. These entities have a bent only to receive credit score and pass on credit history to other entities without having creating any payment of taxes in cash.

“They went over a fishing expedition,” Paluch explained. “They painted us all with this broad brush as criminals.”

TLA is looked after in the housing get more info Workplace. If claiming TLA from a former overseas obligation location, it need to be looked after at that duty station rather than Ramstein

One particular lakh as revenue tax. This amount ought to have been paid out in each of the two previous economical decades for which the time limit to file return of revenue below subsection part 139(1) from the explained Act has expired.

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♦ This rest is linked with RECEIPT of refund of ITC on account of zero-rated materials effected without payment of IGST i.e. effected less than bond or LuT.

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The preferred sight in Nonthaburi might be the island of Koh Kred, in which individuals continue to apply The traditional art of constructing clay pots. Other sights involve an historical temple fortress and a charming aged provincial hall.

c) The registered individual has obtained a refund of much more than Rs. One lakh while in the previous money 12 months under inverted duty construction