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# GST Changes Applicable From 01.01.2021: Compulsory Payment by Cash of At Least 1% of Tax Liability - (29 Dec 2020)

GOODS AND SERVICES TAX

New Rule 86B has introduced restrictions on the use of amount of Input Tax Credit (ITC) available in electronic credit ledger. As per the said Rule, a registered taxpayer, where the value of taxable supply other than exempt supply and zero-rated supply exceeds Rs. 50 Lakhs per month, cannot discharge his liability in excess of 99% by utilizing the ITC.

Tags : TAX LIABILITY   USE OF ITC  

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