GST Payment
Dear members,
This GST Payment is tricky affair, as recently by mistake I paid Rs.3.25 lacs in IGST instead of CGST/SGST thr Cash Ledgers and when actual liability calculated I realised that I made wrong payment in wrong head but this kind mistakes do happen as this is a learning phase and govt should not hold that big amount in their custody as a deposit/advance payment, I know this can be adjusted/refunded thr filing revised GSTR1/2 but that is again a second task where small business find it difficult to devote time to do all these !! so if dealer by mistake this kind of mistakes it should automaticaly adjust with the other heads, thus making dealer friendly Tax, then it will become good & simple tax or else it will be again burden on business becos his working capital is heldup !! more
This GST Payment is tricky affair, as recently by mistake I paid Rs.3.25 lacs in IGST instead of CGST/SGST thr Cash Ledgers and when actual liability calculated I realised that I made wrong payment in wrong head but this kind mistakes do happen as this is a learning phase and govt should not hold that big amount in their custody as a deposit/advance payment, I know this can be adjusted/refunded thr filing revised GSTR1/2 but that is again a second task where small business find it difficult to devote time to do all these !! so if dealer by mistake this kind of mistakes it should automaticaly adjust with the other heads, thus making dealer friendly Tax, then it will become good & simple tax or else it will be again burden on business becos his working capital is heldup !! more
Viewed by 567
View all 8 comments Below 8 comments
Under GST law, the payment of GST can be made from the two sources: 1. By utilization of Input Tax Credit (ITC) 2. By offsetting payments from electronic cash ledger. Under case 1: where utilization of ITC is used for payment of output tax liability, the cross utilization between IGST and CGST can happen. In other words, the excess credit of IGST can be utilized for the payment of CGST or SGST. Under case 2: The cross offsetting of payment in cash ledger is not allowed. I.e. if you have made the payment for IGST, then the same cannot be utilized for making the payment of CGST or SGST. since cross utilization of payment made cannot be done, you need to take another way to file your GST return. Another way is to remake the payment of any remaining output liability and keep any excess payment made which can be utilized with future tax liabilities. more
Oct 18
Yes this kind of errors can happen and in our case it was a huge amount. We have raised the issue to permit cross utilisation of funds under such circumstances .kindly make separate representations more
Oct 17
Facility to correct the GSTR 3B should also provided. Being first time, many have committed mistakes. After submitting there is no facility to revise it. more
Oct 17
Proposal is good. I would like to share my experience, with DVAT department. As on date I have some 6.0 L input credit, for which I have applied for refund. Some 2.5 L is payable as form C are not received. Now I am arguing, you deduct 2.5 L and refund the balance. But DVAT is asking first you clear your all the dues than only they will refund the excess amount. POINT TO LEARN - NEVER BELIEVE MONEY ONCE PAID TO GOVERNMENT, DUE TO ANY REASON WHATSOEVER, REFUND / ADJUSTMENT IS NEXT TO IMPOSSIBLE. more
Oct 17
This option of adjustment is definitely required. I fully support this proposal for the sake of trade and professional community. more
Oct 17
