CAIT urges FM to defer rollout of Rule 86B in GST ...Middle East

Devdiscourse - Opinion
CAIT urges FM to defer rollout of Rule 86B in GST
source : Devdiscourse ( Middle East ) () 33
Traders' body CAIT on Friday urged Finance Minister Nirmala Sitharaman to defer the implementation of Rule 86B in GST, whereby businesses with over Rs 50 lakh monthly turnover will have to pay at least 1 per cent of their GST liability in cash, terming it a ''counterproductive'' measure that will increase the traders' compliance burden. The Central Board of Indirect Taxes and Customs has introduced Rule 86B in Goods and Services Tax (GST) which restricts the use of input tax credit for discharging GST liability to 99 per cent.

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