RULE 86B IS APPLICABLE FOR THE MONTH OF DEC-20 OR JAN-21? IN RULE IT IS STATED THAT IT IS APPLICABLE FROM 01.01.2021.

Reply- As per newly inserted Rule 86B of CGST Rules, the registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of ninety-nine per cent. of such tax liability, in cases where the value of taxable supply other than exempt supply and zero-rated supply, in a month exceeds fifty lakh rupees.

As the above rule is related to payment of tax and applicable from 01.01.2021, it will be applicable at the time of payment of tax i.e. while filing return in January 2021.