Rule 86B of CGST Rules and Its Impact

The Central Board of Indirect Taxes and Customs (CBIC) has introduced new rule 86B vide notification number 94/2020 on 22nd December, 2020. Rule 86B is made effective from 01/01/ 2021. This rule basically says that if the taxpayer’s taxable turnover exceeds above INR 50 lacs in a given month, then in that month, the taxpayer is required to pay 1% of output liability of such taxable turnover by cash ledger… Read More »Rule 86B of CGST Rules and Its Impact