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Friday 25 December 2020

CAIT urges FM to defer rollout of Rule 86B in GST

Traders' body CAIT on Friday urged finance minister Nirmala Sitharaman to defer the implementation of Rule 86B in goods and services tax (GST), whereby businesses with over Rs 50 lakh monthly turnover will have to pay at least 1 per cent of their GST liability in cash, terming it a "counter productive" measure that will increase the traders' compliance burden.

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