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Ans. The worth of all zero-rated provides which include exports and provides to SEZ might be excluded for calculating the limit of Rs. 50 lakhs.
One lakh as income tax. This amount ought to have been paid in Each and every of the two previous money a long time for which the time limit to file return of income less than subsection area 139(one) in the stated Act has expired.
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Properly stated all problems, Sir, could you make sure you make clear that regardless of whether if 1% ITC compensated in cash for your thirty day period of January would be regarded as for subsequent months even though examining the exception proviso to this Rule?
Ans. A single won't need to cumulatively compute the taxable provides by more info merging values of the earlier thirty day period. A single has to only locate the taxable materials of the present thirty day period to determine if it exceeds Rs. 50 lakhs. If yes, 1 should adjust to this provision.
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