- 6129 Views
- 12 Jan 2021
- CA Navjot Singh
- Notifications, Rules, Registration, Income Tax, Finance,
With effect from 01.01.2021 vide Notification No. 94 /2020 – Central Tax, dated 22nd December 2020 a new rule i.e., 86B is inserted to curb the ongoing fake invoices transactions. A. Legal Provision: Notwithstanding anything contained in these rules, the registered person shall not use the amount available in the electronic credit ledger to discharge his liability towards output tax in exc......