Sequence of tax payment under GST: prior-period liabilities paid before current-period dues, then confirmed demands. Where a taxpayer has liabilities for prior periods, Section 49(8) mandates that payments be applied first to self-assessed tax and other dues for previous ... Summary
Sequence of tax payment under GST: prior-period liabilities paid before current-period dues, then confirmed demands.
Where a taxpayer has liabilities for prior periods, Section 49(8) mandates that payments be applied first to self-assessed tax and other dues for previous periods, then to self-assessed tax and other dues for the current period, and thereafter to any other amounts payable including confirmed demands.
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