Inverted tax composition provide :- Where by tax rate on input is larger in comparison to the tax charge on output ensuing into accumulation of ITC, Therefore refund is authorized and rule 86B isn't utilized.
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Ans. There are actually quite a few entities all over India which interact in fake invoicing i.e. challenge of invoices with no actual offer of goods and / or companies. These entities have a tendency only to acquire credit score and move on credit to other entities devoid of producing any payment of taxes in cash.
Generally speaking, Mrozek claimed, several elements would guide the FBI to go after forfeiture on the packing containers’ contents — which include huge stacks of cash retained by an individual having a criminal history or no acknowledged supply of profits.
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As a result of this post, the writer purports to investigate the provisions and its simple implications by answering the most often asked issues concerning this rule.
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In the U.S. Non-public Vaults scenario, the FBI’s May well twenty recognize of forfeiture in opposition to 369 Secure deposit boxes marked A significant escalation of what was presently a Uncooked Screen of energy via the FBI and U.S. lawyer’s Workplace in La.
Prosecutors also manufactured scant evidence in One more forfeiture circumstance to confiscate greater than $900,000 from a box holder whose identity they are already not able to master. They accused him of becoming “either a prime-degree drug trafficker or money launderer.”
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Yet the FBI is currently endeavoring to confiscate $86 million in cash and numerous bucks extra in jewellery along with other valuables that agents present in 369 with the packing containers.
Q.10 Underneath the exception, if the limit is refund been given in the course of the yr or refund belonging to the 12 months?
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