(a) Section 115JD provides the credit for tax (tax credit) paid by a person on account of Alternate Minimum Tax shall be allowed to the extent of the excess of the AMT paid over the regular income tax. This tax credit shall be allowed to be carried forward up to the tenth assessment year immediately succeeding the assessment year for which such credit becomes allowable. It shall be allowed to be set off for an assessment year in which the regular income tax exceeds the AMT to the extent of the excess of the regular income tax over the AMT. No interest shall be payable on tax credit allowed under section 115JD. With a view to enable an assessee who has paid AMT in any earlier previous year to claim credit of the same, in any subsequent year, section 115JEE (3) provides that the credit for tax paid under section 115JC shall be allowed in accordance with the provisions of section 115JD, notwithstanding the conditions mentioned in section 115JEE (1) or (2)

(b) 1. An Assessing Officer (AO) can order payment of advance tax if following conditions are satisfied: 

a) The assessee has already been assessed by way of regular assessment in respect of total income of any previous year. 

b) The assessee has failed to pay such tax. 

c) The AO is of the opinion that such person is liable to pay advance tax on current year’s income. 

d) The order should be in writing and must specify the amount of advance tax and installments in which advance tax has to be paid. 

e) Such order may be passed during the previous year but not later than last day of February. 

2. The assessee can pay advance tax at a rate lower than assessment made by the AO, after submitting his own estimate of income in Form No. 28A. However, for higher estimate made by the assessee, Form 28A is not required to be furnished. 

3. The AO will find out the current income of the assessee on the following basis: 

a) Total income of the latest previous year in respect of which the assessee has been assessed by way of regular assessment. 

b) The total income returned by the assessee for any previous year subsequent to the previous year for which regular assessment is made, whichever is higher. 

4. Section 210(4) provides that AO can revise his order issued to the taxpayer to pay advance tax ,if subsequent to the passing of an order to pay advance tax, but before 1st March of the relevant financial year, 

(i) a return of income in respect of any later year has been furnished by the taxpayer or 

(ii) any assessment for any later year has been completed, at a higher figure. On receipt of such order, the same procedure has to be followed by the taxpayer .

(c) 

i) For Government & Economy:

1. Effective Administration of Taxation: GST will simplify and harmonise the indirect tax regime in the country.

2. Broaden Tax Base :GST will broaden the tax base, and result in better tax compliance due to a robust IT and online infrastructure, seamless transfer of input tax credit from one stage to another in the entire supply chain of value addition and decline in number of tax on goods and services.

ii) For Traders and manufacturers :

1. Uniformity of Tax Rates and Structures: GST will ensure that indirect tax rates and structures are common across the country, thereby increasing certainty and ease of doing business. 

2. Removal of Cascading: A system of seamless tax-credits throughout the entire supply chain, and across boundaries of States, would ensure that there is no cascading of taxes. This would reduce hidden costs of doing business.