What Does 86 cash Mean?

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Rule 86B has undergone serious criticism from different stakeholders at any time since the exact is notified by the Government. It puts a restriction on the quantity which may be applied from your electronic credit rating ledger although generating the payment of output taxes.

India has really minimal rates of tax in comparison with all kinds of other nations. The tax-to-GDP ratio - just how much tax is elevated to be a proportion on the output from the overall economy - was 17% in 2013.

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Ans. It has been Evidently furnished the limit is for refund received throughout the previous money 12 months irrespective of the period of time for which the refund were claimed.

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Ans. It mandates cash payment of one% from the output tax legal responsibility with a month to month foundation for the registered persons who're protected by this rule. This payment of legal responsibility in cash will be expected no matter the fact that there is an existing stability from the Digital credit rating ledger.

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