CA
1258 Points
Joined May 2020
As per GST Notification No. 94/2020 - Central Tax, dated 22nd December 2020, Rule 86B, 1% of output tax liability needs to be paid in "CASH" w.e.f 01/01/2021 if your aggregate turnover exceeds Rs. 50 lakhs in that particular month. If your turnover is less than 50 lakhs then you can set off your entire liability through input tax credit (ITC), no need to pay any cash