Restriction on the use of balance of credit ledger in gst
This query is : Resolved
13 February 2021
sir
I got a circular there a " restriction on the use of balance of electronic credit ledger in gst" .
This is w.e.f from Jan 21. it further sales that minimum 1 % of gross output tax liability should be pay.
One of my company has turn over around 1 crores and in put tax is excess while comparing output.
My doubt is whether any tax liabilities is effect in this case .
Please advise.
I got a circular there a " restriction on the use of balance of electronic credit ledger in gst" .
This is w.e.f from Jan 21. it further sales that minimum 1 % of gross output tax liability should be pay.
One of my company has turn over around 1 crores and in put tax is excess while comparing output.
My doubt is whether any tax liabilities is effect in this case .
Please advise.
13 February 2021
You will have to pay 1% of the GST amount in cash subject to relaxations in Rule 86B
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Advantages and disadvantages new income tax act 2025 question
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
