- May 18, 2021
- Posted by: TeamSCK
- Category: Economics
1) Filing of GST PMT – 09 – Transfer from one head to another head in cash ledger
(A) Benefits – Enables a registered taxpayer to transfer any amount of tax, interest, penalty, etc. that is available in the electronic cash ledger, to the appropriate tax or cess head under IGST, CGST and SGST in the electronic cash ledger. Following adjustments can be made –
- Reallocating wrongly paid CGST instead of SGST
- Transfer of wrongly deposited amount as interest instead of fees
(B) The amount once utilized and removed from cash ledger cannot be reallocated
(C) Transfer can be made from One Major Head to other Major Head (CGST to SGST or any combination) or one Minor Head to Other Minor Head (from Tax to Interest) or from one Major Head to other Minor Head (IGST Tax to CGST Interest).
This is a welcome move which saves lot of efforts of claiming refund where the balance was deposited under wrong head.
2) Filing GSTR 1 & GSTR 3B by Electronic Verification Code i.e. EVC (no need for affixing DSC)
- CBIC notified vide Notification No. 07/2021-Central Tax on 27th April, 2021
- option to file GSTR 1 & GSTR-3B by EVC instead of DSC on GSTIN portal
- for Companies or LLPs
This relaxation allows furnishing the return during the period from 27th April, 2021 to 31st May, 2021.
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