GST Rule 86B, 99% ITC Restriction and it's repercussions? | ConsultEase with ClearTax
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- Опубликовано: 23 дек 2020
- GST Rule 86B, 99% ITC Restriction and it's repercussions. Janiye kya hai rule 86B. How rule 86B is going to hamper the businesses. It will block the utilization of ITC. In this way, it will have a bad impact on cash flow.
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Rule 86B
Issues in rule 86B
Impact of rule 86B on businesses
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madamji rcm payment count hoga ke nahi
I appreciate your boldness.
U advice them for abolishment of GST,
Impose low rate of st on every point, insist on advance st of 10000, issue tax.paid.tokens for requests from seller before despatches of goods n services
Minutely easy and clear explanation on the topic. Very well elaboration of hardship faced by stakeholders after implementation of 86(B).
100% agree mem
If you can't file case then follow rules
Its again feels like we are living in old ages
Where king is used to charge lagan at whatever rate he want and common men suffers
Mam i really appreciate your efforts, but would like to correct you as 1% of 18 L will be 18000 instead of 180000 .
Calculation error
18000 hoga
Thanks Madam & keep updating us.
Sorry for the mistake, 1% of 18lac is 18k, pls read it as Rs. 18000
He he he
This will create a cash crunch in the market and will ultimately hit the economy. Basically govt wants small businesses to close down so that everything goes to corporates. Slowly and step by step it is becoming hard to do business in India
Your analysis is great mam.
Thank you so much for well & easy explaination 👍
Thanks a lot maam.your video is very very knowledgeable.keep it ip the good work.
Good n nyc explainatiin shaifali...
Very good explanation
Excellent
Great explain rule of 86B
From what return period(return month dec20 or jan21) is this rule applicable
There is not any mentioned about TDS PAY etc as per notification. Only cash pay with file return in time. Reverse charge paid in cash excluding.
is it pan or gst base,prop havin 2 diff firm
Mam plz make video on new scheme of gst returns. Which one to choose?
Madam bahut ache....madam apki last line bahit achi lagi... agar rs. hai to court me writ lagao warna accept kr lo...
Thanks mam for updating me.
You are right mam..
Madam, kya mujh branch transfer sales consider karna hi ise rule Mai
what about industries like cement and tyres? They have policy to sell goods through under billing? Their profit is generated through Credit note only? Please help
Madam Can we expect late fee waiver for non return filed in council meeting
Mam vyapar software business ke stock aur sales ke liye perfect hai ya koi other... Please reply
V good explanation
good explanation
Will it be applicable for December GSTR 3B due on 20.1.2021 ?
Madamji,please answer me, for labour income for machine fabrication or any labour income gst is 18% or 12% . It is urgent for issuing bills.
Mam Common GST Ledger Main Is Ka Accounting Kaise Kar Sakte hai ?
Please Please Please
Pl mention the Proviso to this Rule where Director / Partner has paid Income Tax > 1 lakh i the preceding two years
👌👍 very clearly information
Mam kisi ka cash ledger me balance hai tabhi 1% pay. Krna padega ya cash balance se adjust ho jayega.
Is cess included in this section
Thank you for information mam
well explained mam
Thanx maim
Well said in last ma'am
stock transfer , taxable turnover m consider m hoga
Thank you so much mam
Still i m confusing that this 1% payment is auto populated or we have to compute
Better explained
Mam great suggestion for CBIC😇
Madam gsr1 me gstr3b ki details fill kar ke submitted hogaya iske liye kya solutions hai. Itc ki jage tax pay karna padhta ☹️
Good
This the way to ease of getting money from honest assessee.
AGREE WITH YOU...
Is interest payable on late payment of 86B liability even though I hv more E Cr ledger?
if 1 % of tax was paid till dec as it was applicable from 01 jan. will this provision will not applicable for future periods or years??
Namaste Maam, If I take previous month unclaimed ITC, then there will be difference in ITC auto populated by the portal and it will be more than 5%...what to do. Should I take input as per my books of A/c and Sir there is also an Input of Rs. 64,000 in Sep-2020 which I forgot to claim....Now can I claim that in my DEC-2020 return....because 36(4) will give me warning and there will be very big difference in ITC.....Maam I hope you understood my question... Kindly Reply....Thank You
Cess pr bhi calculate hoga 1% mam
Agar officer 1lac rd. Income tax ka rule na mane to kya kare
Nirmala Madam is a Mad Scientist Experimenting with Indian Economy.
You are very late to know this.
IS IT apply PAN WISE OR GSTIN WISE?
Mam, 1%of taxable amount or 1% of tax amount for payment of liablity in cash
Mam, for the limit of turnover of 50 lakhs - if a person has two GSTIN numbers on single PAN then limit will be calculated for the aggregate of Both GSTIN Or single GSTIN wise
Ha total aayega dono ka
How the portal will know if taxpayer is paying more than 1 lac income tax.
Very nice 👍
Is 1% rule applicable on cess also?
Madam yah individual ke bare mein nahin hai company bhi apply kar sakti hai
What if one utilizes 100% of ITC by mistake? Can it be corrected?
good
Hi Thanks For Information, I have recived notice of 86B and they said paid 1% tax via cash but i have already paid this month GST, and i am ready to pay 1% tax, please guide me how to make payment of this tax against 86b notice of month march?
Madam tax audit k date extend hone k koi chance hai?
Ji mam
Cash ledger ka refund le skte hain?
If sales is Deemed Export with GST then what
Is Rule 86b applicable in 2022-2023
,If monthly taxable sale crossed 50 lacs..
And
If up-to-date tax paid Rs 10000 in cash .
Total tax up-to-date
100000
Does RCM Payment by cash ledger calculated in 1%?
For RCM we can't use ITC
Nice vedeo mam
1% igst ya first cgst or sgst
Ma'am 1% tax pay kr diya tha but vo ITC se set off ho gya is case me kya kr skte hai
14:24, They don't check the docs. They keep them for record only.
Without 💵 they dont issue refund. And I know you know it very well but u can't say this here.
Excellent interpret mam. Directly violating article 14. I strongly oppose the the rule.
Mam hum mostly goods import karte hai or igst custom ke sath bhar kar aa rahe hai to kya hame bhi 1% cash ledger se tax bharna jaruri hai. Hum to phle hi igst cash bhar kar aa rahe hai. Please explain
Very helpful video. Thank you for sharing this one
I wa waiting
mam is it applicable for december, 2020 month GSTR3b filing in January, 2021?
Jan21
Madam, Yeh 1% input tax credit milega?
Check List Honi Chahiye
With great power comes great responsibility, except if you are a tax official.
Ma'am but income tax must be paid more than one lakh in last two proceeding financial years
Yes you've explained it very well. there must be correction in rule 86B .
18000 ko 180000 bol k darao mat
Much needed reforms, businesses were making fraunds, Rather than paying tax they were siphoning off the money, Claiming false ITC
🙏
E invoice please explain
Will do it in next video, thanks for the reminder
You said wrong at 7 :44 !! Its two Year not only Previous Year
I m importer depositing GST cash on import
We can't learn by going against Govt. Mam...
86 B me average point bataye ap
If output is 100...input 80... How will this rule work?
To bhaiya tmko 1% ki jagah 20% dena hai
1800000 ka 1 percentage 18000
Gst ke officer bhi dekhte honge ye videos business shru karne se pehle law ka jali main fasana
Hi shaifaly
As I had said earlier, also this time I can't help saying that India is a great country bcoz there are so talented people like you irrespective of being overweight or fat
:)
Vry nicely explained.
And 1% of 18 lac is 18K not 1.8 Lac.
;)
Hahahhahahaha....I have joined Gym🙏 . Thanks for inspiring. Although weight is due to hypothyroidism. But after your comment I got it tested. Earlier I was not taking it seriously.
@@ConsultEase wishing u a vry healthy life.
Bye Gol Mol
:)
Dear Madam, it is death of intention of gst
18Lakh ka 1% 18K hogaa which is a nominal amount
Mam 18 lack 1% is 18000
Madam 18 lac per 1% 18thousand hote hey
1% of 18 lacs is 180000? Pls check it should be 18000
You missed out to explain restriction to registered person who are paying income tax of 1 lakh in 2 previous years which again provides releif to large tax payers also. This section inserted to catch hold of organization issuing fake invoices.