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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New GST Rules Require Electronic Tax Liability Register for Accurate Tracking of Taxes, Interest, and Penalties.</h1> The Draft Goods and Services Tax Payment Rules outline the maintenance of an electronic tax liability register for taxable persons. This register, maintained in FORM GST PMT-1 on the Common Portal, records all payable amounts, including taxes, interest, penalties, and fees. Debits occur for amounts payable as per returns, proceedings, mismatches, or accrued interest. Payments are made by debiting the electronic credit or cash ledger, and the register is credited accordingly. Any demands or penalties are adjusted based on appellate relief or payments made, ensuring the register reflects accurate liability status.
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