what does cashsetoff <5% from tax liability? please give an example.
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Minimum cash set off
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Cannot get your query , kindly describe with explanation
WHAT DOES CASH SET OFF <5% FROM TAX LIABILITY MEAN. SUPPOSE IF A DEALER'S TAX LIABILITY IS RS. 100000 ,HE DEPOSITS ALL AMOUNT OF TAX THROUGH ITC. IS IT LEGITIMATE OR HE HAS TO PAY AT LEAST 5% OF TAX LIABILITY IN CASH AND REST WILL BE ADJUSTED WITH ITC..
Noooooo there is No Such Concept of 5% required to deposit Cash.
You can Setoff the whole liability if you have enough ITC
You can Setoff the whole liability if you have enough ITC
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