1. ONE OF OUR CLIENT TAKEN NEW GST REGISTRATION IN APRIL 2026 IN PARTNERSHIP NATURE. AND NOW MONTHLY TURNOVER CROSS 50 LAKH PER MONTH. AND RULE 86(B) APPLICABLE IF MONTHLY TURNOVER CROSS 50 LAKH. ONE OF PARTNER WAS PAID 1 LAKH INCOME TAX IN PREVIOUS TWO FINANCIAL YEARS. SO QUESTION RULE 86(B) IS APPLICABLE IN THIS PARTNERSHIP FIRM GSTIN AND SHOULD THEY LIABLE TO PAY 1% GST TAX PAYMENT. PLEASE PROVIDE ME GUIDANCE.
2. ONE OF OUR CLIENT TAKEN NEW GST REGISTRATION IN APRIL 2026 IN PROPRIETURE NATURE. AND NOW MONTHLY TURNOVER CROSS 50 LAKH PER MONTH. AND RULE 86(B) APPLICABLE IF MONTHLY TURNOVER CROSS 50 LAKH. PROPRIETOR OF FIRM WAS NOT PAID 1 LAKH INCOME TAX IN PREVIOUS TWO FINANCIAL YEARS. SO QUESTION RULE 86(B) IS APPLICABLE IN THIS PROPRIETORSHIP FIRM. AND SHOULD HE LIABLE TO PAY 1% GST TAX PAYMENT. PLEASE PROVIDE ME GUIDANCE.
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Rule 86(B) Applicability
Replies (1)
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Partnership Firm: Rule 86(B) does not apply (due to the partner meeting the Income Tax payment criteria), so 1% mandatory cash payment is not required.
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Proprietorship Firm: Rule 86(B) applies (turnover > ₹50L and proprietor failed the Income Tax criteria), so 1% must be paid via the electronic cash ledger.
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