Rule 86B:
Whether Cash Paid for RCM will be counted in 1% cash required to be paid under rule 86B.
For Example: I need to pay 5000/- under Rule 86B and I am paying 4000/- under RCM.
Then what amount i need to pay under Rule 86B, Rs. 1000/- or 5000/- ??
No....
As RCM is paid on Inward Supply which is not paid through your Credit Ledger Whereas Rule 86B is that you can utilize credit ledger upto 99% to discharge your tax liability.
CAclubindia
