Not paid 1% of tax by Cash as per RULE 86B

Not paid 1% of tax by Cash as per RULE 86B https://www.taxtmi.com/forum/issue?id=119375 Taxpayer failed to deposit the 1% cash component of output tax for February 2021 under Rule 86B; department issued a demand with interest. Subsequent excess cash deposit in May 2021 followed exhaustion of credit ledger balances. Forum advice is to contest the demand, relying on a high-court decision finding Rule 86B ultra vires, to seek relief and avoid creating adverse precedent. en-us Sat, 26 Oct 2024 12:28:53 +0530 Fri, 24 Jan 2025 10:40:17 +0530 TaxTMI RSS Generator Not paid 1% of tax by Cash as per RULE 86B https://www.taxtmi.com/forum/issue?id=119375 Taxpayer failed to deposit the 1% cash component of output tax for February 2021 under Rule 86B; department issued a demand with interest. Subsequent excess cash deposit in May 2021 followed exhaustion of credit ledger balances. Forum advice is to contest the demand, relying on a high-court decision finding Rule 86B ultra vires, to seek relief and avoid creating adverse precedent. Discussion-Forum GST Sat, 26 Oct 2024 12:28:53 +0530 https://www.taxtmi.com/forum/issue?id=119375