Oct 17, 2017
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GST tax payment with reference to Electronic Tax Liability Register

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GST TAX PAYMENT

GST tax 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 payment article further talks about payment of tax with reference to RULE-1. Electronic Tax Liability Register 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

1. Electronic Tax Liability Register

FORM GST PMT-01

Thus electronic tax liability register specified under sub-section (7) of section 49. And shall also maintain and all amounts payable by him shall debit to the said register.

4. Identification number for each transaction

Sub-rule:

(2) Thus unique identification number relating to discharge of any liability.

While it also indicate in the corresponding entry in the electronic tax liability register.

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

RULE-1. Electronic Tax Liability Register regarding GST tax payment:

(1) Thus electronic tax liability register specified under sub-section (7) of section 49 shall maintain in FORM GST PMT-01. The electronic tax liability register specified under sub-section (7) of section 49 shall maintain and all amounts payable by him shall debit to the said register.

(2) Thus electronic tax liability register of the person shall debit by:-

(a) the amount payable towards tax, interest, late fee or any other amount payable as per the return furnished by the said person.

(b) however amount of tax, interest, penalty or any other amount payable as determined by a proper officer in pursuance of any proceedings under the Act or as ascertained by the said person.

(c) the amount of tax and interest payable as a result of mismatch under section 42 or section 43 or section 50.

(d) or any amount of interest that may accrue from time to time.

(3) Furthermore, Subject to the provisions of section 49, payment of every liability by a registered person as per his return shall made by debiting the electronic credit ledger maintained as per rule 2 or the electronic cash ledger maintained as per rule 3 and the electronic tax liability register shall credit accordingly.

(4) Thus amount deducted under section 51, or

the amount collected under section 52,or

amount payable under section 9(3) or (4),or

the amount payable under section 10,or

section 5(3) or (4) of the Integrated Goods and Services Act or

section 7(3) or (4) of the Union Territory Goods and Services Tax Act

{any amount payable towards interest, penalty, fee or any other amount under the Act or the Integrated Goods and Services Act shall be paid by debiting the electronic cash ledger maintained as per rule 3 and the electronic tax liability register shall be credited accordingly

(5) However any amount of demand debited in the electronic tax liability register shall stand reduced to the extent of relief given by the appellate authority or Appellate Tribunal or court and the electronic tax liability register shall credit accordingly.

(6) Thus amount of penalty imposed or liable to impose shall stand reduced partly or fully, as the case may be, if the taxable person makes the payment of tax, interest and penalty specified in the show cause notice or demand order and the electronic tax liability register shall credit accordingly.

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).

 

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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.

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