Q.7 Are there any exceptions on the listing of registered people that are needed to adjust to this rule?

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Prosecutors claim the forfeiture is justified because the unnamed box holders had been engaged in legal action. They have got disclosed no proof to aid the allegation.

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Ans. It mandates cash payment of 1% of your output tax liability over a month-to-month basis for that registered persons who're included by this rule. This payment of legal responsibility in cash could be essential no matter The actual fact that there's an present balance while in the Digital credit ledger.

Ans. A single would not have to cumulatively estimate the taxable materials by merging values of the sooner month. 1 needs to only find the taxable provides of the current thirty day period to ascertain if it exceeds Rs. fifty lakhs. If Sure, one needs to comply with this provision.

♦ RCM liability discharged using cash in present-day money 12 months shall not be taken into account for computing “a lot more than 1% of complete output tax legal responsibility upto the claimed month continues to be discharged in cash”.

I did not utilize rule 86B in a particular thirty day period. Would there be a penalty, curiosity or reversal of ITC in subsequent month?

Ans. The Restrict of Rs. A person lakh will be calculated for inverted duty composition and zero rated materials individually. Therefore, the limit with the exports and materials to SEZ developer or unit is going to be more info clubbed to find out Rs. A single lakh but that from the inverted duty composition might be individual.

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Deployment authorizations are developed and accredited through the accounting Place of work, not the finance Place of work. Deployment vouchers NEED to be submitted within just 5 times of arrival. Vouchers are approved within the get wherein They may be been given. Any returned voucher could have remarks for corrections. 

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Zellhart vowed the FBI would generate a thorough history of each box’s contents, pursuing its prepared stock policies to protect the government towards statements of theft or injury and to guarantee very little harmful was saved.