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Ans. The worth of all zero-rated provides such as exports and provides to SEZ will likely be excluded for calculating the limit of Rs. 50 lakhs.
The money and merchandise are Among the many contents of about 800 Secure deposit boxes the FBI seized in late March during a 5-working day raid with the U.S. Non-public Vaults store in an Olympic Boulevard strip mall known for its kosher vegan Thai restaurant.
In the event the registered person underneath problem has been given a refund of volume bigger than Rs.1 lakh during the preceding economical year on account of export below LUT or resulting from inverted tax construction.
In addition, he mentioned, the FBI’s “chaotic and slapdash” inventory of her valuables neglected to include $75,000 in gold coins that she has now sued to Get well.
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Although this rule continues to be notified with the proper intention in your mind, The federal government cannot help but deal with a decide on team of legitimate taxpayers at the same time within just its ambit. An illustrative listing of these types of taxpayers has long been offered beneath:
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My place is my ITC is a lot less than Rs.one Lac, I paid out full tax payment utilizing ITC as greater level of tax was paid to Customs. New registration under GST, still I really need to pay back one% GST by Cash or There's any way This may be safeguarded.
Thus if in any thirty day period, the Restrict of Rs. 50 lakhs is not really crossed though the turnover is much more than Rs. 6 crores in a economical 12 months, Rule 86B isn't going to have to be complied with.
Applicability: This rule is applicable to registered folks acquiring taxable worth of source (besides exempt offer and zero-rated supply) in per month that's greater than Rs.fifty lakh. The limit should be checked every month ahead of filing Each individual return.
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