Regarding Rule 86B

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150 Points Posted on 08 November 2024
I have taken registration in Apr 2021 and crossed monthly turnover 50 lakhs for more than one month.As newly registered I have not filed previous year IT for 86B exemption. So 86B is not applicable to me. plz clarify issue. Thanking you
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On 08 November 2024 at 20:50 Report
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This discussion clarifies the applicability of Rule 86B under GST. If your monthly turnover exceeds 50 lakhs, Rule 86B restrictions generally apply, even if you are newly registered. The exemption for not filing the previous year's IT is only applicable if you haven't crossed the 50 lakh threshold in previous months.

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SEO Sai Gr. Hosp.
212453 Points Posted on 09 November 2024

Restriction under Rule 86B is applicable to you in the month/s TO exceeded 50 lakhs.

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On 09 November 2024 at 08:50
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M Com FCS LLB M-AIMA
14046 Points Posted on 13 November 2024

yes it is applicable as soon as your turnover exceeds Rs 50 lakhs in a month.

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On 13 November 2024 at 16:01

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