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Having stated this, it may be argued in this kind of situation, there was no avoidance of any tax legal responsibility. Hence, there's no sum payable to the government. Thus, there can not be any problem of any tax liability or interest or penalty payable on the contravention of this provision.
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discharged the liability pursuing rule 86(B) with the credit history ledger in lieu of cash ledger. am i chargeable for curiosity if compensated discharged by way of cash ledger later on
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♦ However, the moment it's founded that rule 86B applies, then the following table shall be checked to analyse no matter if registered man or woman falls within exception given in this proviso.
Ans. Only registered individuals who may have taxable supplies of greater than Rs. fifty lakhs in a specific thirty day period (matter to particular exceptions) will have to comply with this provision.
♦ RCM liability discharged making use of cash in present-day money 12 months shall not be taken into account for computing “a lot more than 1% of total output tax legal responsibility upto the explained thirty day period is discharged in cash”.
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It is among 11 suits filed by box holders that look for the return in their property and court docket orders declaring the seizures unconstitutional.
When you are matched using a lender, plus your mortgage is authorised, the curiosity premiums and charges that you'll incur during repayment might be supplied for you.
Rule 86B has been through serious criticism from a variety of stakeholders at any time Considering that the exact same is notified by the Government. It places a restriction on the quantity which may be made use of in the electronic credit history ledger when generating the payment of output taxes.
This data can make the transfer of money for your account in the situation of the mortgage offer a lot quicker and safer. Will this details be used to choose cash out of my account?
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