Transfer of amount from one account head to another in Electronic Cash Ledger

Transfer of amount from one account head to another in Electronic Cash Ledger

(Effective from 21st April 2020)

• Notification No. 37/2020 – Central Tax dated 28th April 2020

• Rule 87 (13) of CGST Rules 2017

• Form GST PMT-09

Notification No. 37/2020 – Central Tax dated 28th April 2020

• Rule 87(13) and Form GST PMT-09 made effective w.e.f 21st April 2017

• Rule 87 (13) of CGST Rules, 2017: 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.

• Taxpayers deposit money using challan and the paid amount gets credited in the particular head in the Electronic Cash ledger and the same can 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 pays the amount under the wrong head and it cannot be used to discharge the liabilities which may be due in another head.

Transfer of amount from one account head to another in Electronic Cash Ledger

• 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.

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. To file Form GST PMT-09 taxpayers are required to login on GST portal with valid credentials and navigate to Services > Ledgers > Electronic Cash Ledger > File GST PMT-09 For Transfer of Amount option.

After Form GST PMT-09 is filed:

• ARN is generated on successful filing of Form GST PMT-09.

• An SMS and an email is sent to the taxpayer on his registered mobile and email id.

• Electronic Cash ledger will get updated after successful filing of Form GST PMT-09.

• Filed form GST PMT-09 will be available for view/download in PDF format.

Tags : GST

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