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Transfer Amount From One Head To Another in GST Electronic Cash Ledger

The Government has made section 99 of Finance (No. 2) Act, 2019 applicable from 1st January 2020 via Notification No. 01/2020 – Central Tax dated 01.01.2020. Section 99 of Finance (No. 2) Act, 2019 state that in section 49 of the Central Goods and Services Tax Act, 2017, new sub-section 10 has been inserted to provide facility to the registered person to transfer any amount of tax, interest, penalty, fee or any other amount available in the electronic cash ledger under this Act, to the electronic cash ledger for integrated tax, central tax, State tax, Union territory tax or cess. Due to this notification now the registered person is able to adjust inter head taxes, penalty, and fees (like IGST, CGST, SGST etc.) from PMT cash ledger by using PMT-09, which will be available on GST portal very soon. Source:

  1. Notification No. 01/2020 – Central Tax: http://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-01-central-tax-english-2020.pdf
  2. Finance (No. 2) Act, 2019: http://egazette.nic.in/WriteReadData/2019/209695.pdf

 

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