Quick Summary
The GST Portal, via their official Twitter handle, has made the taxpayers aware of the New Rule 86(B) on 1% cash payment of the liability. Read the poster released on the same, below.
Let’s understand new Rule 86 (B) on 1% cash payment of the liability
FAQ :
The new rule is Rule 86(B), which requires taxpayers to pay at least 1% of their total GST liability in cash.
The GST Network (GSTN) has made taxpayers aware of this new rule.
The rule is intended to prevent the misuse of input tax credit and ensure a minimum cash payment towards GST liability.
Taxpayers are being informed through the official GST Portal, including via their Twitter handle and released posters.
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