CBIC have notified 21st April 2020 as the appointed date from which rule 87(13) shall come into effect.
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CBIC have notified 21st April 2020 as the appointed date from which rule 87(13) shall come into effect.
Form GST PMT-09 is now available on GST portal and it enables a taxpayer to make intra-head or inter-head transfer of amount available in Electronic Cash Ledger. A taxpayer can file GST PMT 09 for transfer of any amount of tax, interest, penalty, fee or others available under one (major or minor) head to another (major or minor) head in the Electronic Cash Ledger. Form GST PMT 09 provides flexibility to taxpayers to make multiple transfers from more than one Major/Minor head to another Major/Minor head if the amount is available in the Electronic Cash Ledger.
Previously, Taxpayers used to deposit money using challan and the paid amount used to get credited in the particular head in the Electronic Cash ledger and the same used to be utilized in settling liabilities of that head only. In case a taxpayer deposited any amount under a major head i.e. IGST, CGST, SGST/UTGST and Cess or minor head i.e. Tax, Interest, Penalty, Fee and Others, they can then utilize this amount for discharging their liabilities only under that major head and minor head. Sometimes, inadvertently, the taxpayer paid the amount under the wrong head and it could not be used to discharge the liabilities which may be due in another head. In such cases taxpayers can claim the refund of the amount which may have been deposited under wrong head in GST by filing a refund application in FORM RFD-01 under the category “Excess balance in electronic cash ledger”. The process of filing refund claim and its disbursement can sometimes lead to blockage of funds for the taxpayer.
Extracts from Notification 31/2019, Central Tax Issued on 28th June 2019
Rule 87
“(13) A registered person may, on the common portal, transfer any amount of tax, interest, penalty, fee or any other amount available in the electronic cash ledger under the Act to the electronic cash ledger for integrated tax, central tax, State tax or Union territory tax or cess in FORM GST PMT-09.”
By notifying this rule government has made PMT-09 available on the portal to enable a taxpayer to make intra-head or inter-head transfer of amount available in Electronic Cash Ledger appointing date being 21st April 2020. This challan only allows shifting of the amounts that are available in the electronic cash ledger.
For details relating to how to fill the Form PMT-09, video link is given below
https://youtu.be/5Z-051O07Tw
For notification relating to 87(13) you can click on the link is given below
https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-37-central-tax-english-2020.pdf;jsessionid=02EE5B5A5F0BCB58E58E9D3EEDA2884F
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