Oct 17, 2017
407 Views
0 0

GST online payment in relation to Electronic Credit Ledger

Written by

GST online payment

GST online payment article mainly focused on the payment rules and regulation that has being followed by the registered person for paying tax with reference sections and rules.

However GST online payment article further talks about payment of tax with reference to RULE-2. Electronic credit ledger and RULE-4 Identification number for each transaction.

Furthermore,GST tax payment article mainly talks about the rules that are revised by the GST council.

Under GST , the council has clearly stated the types and forms so required to file the return.  Thus only registered person has right to claim. And filed for return under GST India.

RULES

FORM, CONTENT WITH REFERENCE

2. Electronic Credit Ledger

 

FORM GST PMT-02

Thus electronic credit ledger shall maintain in for each registered person eligible for input tax credit under the Act on the Common Portal and every claim of input tax credit under the Act shall credit to the said Ledger.

 

FORM GST PMT-03

To the extent of rejection, shall be re-credited to the electronic credit ledger by the proper officer by an order made.

 

FORM GST PMT-04

However, a registered person shall, upon noticing any discrepancy in his electronic credit ledger, communicate the same to the officer exercising jurisdiction in the matter, through the Common Portal.

4. Identification number for each transaction

Sub rule(1) while a unique identification number shall be generated at the Common Portal for each debit or credit to the electronic cash or credit ledger, as the case may be.

RULE-2. Electronic Credit Ledger

(1) Thus electronic credit ledger shall maintain in FORM GST PMT-02 for each registered person eligible for input tax credit under the Act on the Common Portal and every claim of input tax credit under the Act shall credit to the said Ledger.

(2) Thus electronic credit ledger shall debited  to the extent of discharge of any liability in accordance with section 49.

(3) However, Where a registered person has claimed refund of any unutilized amount from the electronic credit ledger in accordance with the provisions of section 54, the amount to the extent of the claim shall debit in the said ledger.

(4) If the refund so file reject, either fully or partly, the amount debited under sub rule.

(3) Thus extent of rejection, shall re-credited to the electronic credit ledger by the proper officer by an order made in FORM GST PMT-03.

(5) Save as provided in these rules, no entry shall made directly in the electronic credit ledger under any circumstance.

(6) Thus, a registered person shall, upon noticing any discrepancy in his electronic credit ledger, communicate the same to the officer exercising jurisdiction in the matter, through the Common Portal in FORM GST PMT-04.

Explanation.–

For the purpose of this rule, a refund shall deem to reject, if the appeal is finally rejected or if the claimant gives an undertaking to the proper officer that he shall not file an appeal.

RULE-4. Identification number for each transaction regarding GST tax payment :

(1)However, a unique identification number shall  generate at the Common Portal for each debit or credit to the electronic cash or credit ledger, as the case may be.

(2) Thus unique identification number relating to discharge of any liability that shall indicate in the corresponding entry in the electronic tax liability register.

(3) A unique identification number shall generate at the Common Portal for each credit in the electronic tax liability register for reasons other than those covered under sub-rule (2).

 

For finding lawyers related to Corporate Affairs & Taxation, visit Nearlaw


Renuka is a Final Year LL.B. student at Siddharth College of Law. She has done her Bachelors in Banking & Insurance and has also completed her Masters in Business Management . She likes to participate in legal workshops and Moot Courts. Besides her interest in law, she has a keen aptitude for legal research and is good at putting her analysis into words.

Leave a Comment

Your email address will not be published. Required fields are marked *

Bitnami