CAIT, Trade Association has urged Finance Minister to defer Rule 86B under GST Rules. With this Rule, taxpayers having monthly turnover more than Rs.50Lakhs would require to pay at least  1% tax liability in cash. This Rule restricts use of input tax credit for discharging GST liability to 99 per cent. This restriction does not apply on such managing director or any partner who has paid more than Rs 1 lakh as income tax or a registered person has received a refund amount of over Rs.1 lakh in the preceding financial year on account of unutilised input tax credit.
https://economictimes.indiatimes.com/news/economy/policy/cait-urges-fm-to-defer-rollout-of-rule-86b-in-gst/articleshow/79954779.cms
