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Ans. The value of all zero-rated materials which includes exports and provides to SEZ are going to be excluded for calculating the Restrict of Rs. fifty lakhs.
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discharged the legal responsibility next rule 86(B) with the credit ledger in place of cash ledger. am i answerable for interest if paid out discharged by way of cash ledger afterwards
Ans. Only registered individuals who have taxable supplies of in excess of Rs. fifty lakhs in a particular month (subject to selected exceptions) need to adjust to this provision.
Even so, because you’re investing with the government, receiving your money back is really a guarantee. Also, with Treasury bonds, Take into account that you might have a decreased charge of return when compared to other choices.
“This absolutely doesn’t scent very good,” mentioned former federal prosecutor David B. Smith, the creator of “Prosecution and Protection of Forfeiture Cases.” “They will’t say, ‘you exhibit me That is legit dollars’ — that’s not the regulation, and no judge will probably allow them to do that.”
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Ans. Let's assume the subsequent case in point as a way to find out the applicability of Rule 86B for month of January 2021:
She advised the Justice of the peace that agents would “inspect the residence as necessary to establish the owner and protect the assets for safekeeping.” Beneath FBI plan, she wrote, the inspection “need to increase no more than vital to determine ownership.”
Q.10 Underneath the exception, whether the Restrict is refund been given over the yr or refund belonging for the calendar year?
Ans. It's been Evidently offered the Restrict is for refund been given over the previous financial yr regardless of the period for which the refund were claimed.