86 cash Fundamentals Explained
86 cash Fundamentals Explained
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A dog inform by yourself is insufficient evidence of the drug criminal offense to warrant forfeiture of cash, the U.S. ninth Circuit Court of Appeals dominated in 1994. The courtroom cited testimony that 75% of the currency circulating in Los Angeles was tainted with copyright or other unlawful medicines.
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On the other hand, In case the turnover is under Rs. 6 crores within a money yr nevertheless the taxable provides for almost any thirty day period exceeds Rs. 50 lakhs, then Rule 86B stands attracted.
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Ans. The worth of all zero-rated materials such as exports and provides to SEZ are going to be excluded for calculating the limit of Rs. 50 lakhs.
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♦ Should you be a real tax payer Then you can certainly implement into the commissioner or authorised officer with
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♦ Nevertheless, once it can be proven that rule 86B applies, then it must be checked that whether or not the registered particular person falls within the exception supplied On this proviso
Ans. A person would not should cumulatively compute the taxable supplies by merging values of 86 cash the sooner thirty day period. A single has to only find the taxable materials of the current thirty day period to find out if it exceeds Rs. 50 lakhs. If Certainly, just one should adjust to this provision.