Form GST PMT 09: Transfer of Amount From One Head to Another in Electronic Cash Ledger Divya Rathi, dated 10 June, 2020

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The Tax Publishers GST--GST Forms Form GST PMT 09: Transfer of Amount From One Head to Another in Electronic Cash Ledger Divya Rathi Recently on 21.04.2020, Form PMT-09 was surprisingly deployed on the GSTN portal. Interestingly this form, which can be used to transfer Amount from one head to another, was not notified till 21.04.2020 but still it got published and went live on the GST common portal. The Learned Author discusses the issues relating to this Form. 1. Background Where taxpayers deposit money using challan and the paid amount gets credited in the particular head in the Electronic Cash ledger, 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. 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 (Section 77 of CGST Act, 2017). SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

GST--GST Forms

Form GST PMT 09: Transfer of Amount From One Head to Another in Electronic Cash Ledger

Divya Rathi

Recently on 21.04.2020, Form PMT-09 was surprisingly deployed on the GSTN portal. Interestingly this form, which can be used to transfer Amount from one head to another, was not notified till 21.04.2020 but still it got published and went live on the GST common portal. The Learned Author discusses the issues relating to this Form.

1. Background

Where taxpayers deposit money using challan and the paid amount gets credited in the particular head in the Electronic Cash ledger, 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. 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 (Section 77 of CGST Act, 2017).