GST fund settlement: provisional and final sanction orders issued via centralized portal following reconciliation, enabling electronic intergovernment transfers. The rules create a login based Centralized Accounting Portal for monthly GST fund settlements: the Principal Chief Controller of Accounts must upload State wise summaries within three working days of GSTN data, prompting provisional sanction orders. Central and State accounting and tax authorities must reconcile discrepancies by the 20th, GSTN must issue revisions by the 25th, and, if changed, a final State wise summary is uploaded within three days to trigger final sanction. The Central Accounting Authority sends electronic Inter Government Advice to the Reserve Bank, which effects transfers and issues a Clearance Memo; accounting entries follow accordingly.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
GST fund settlement: provisional and final sanction orders issued via centralized portal following reconciliation, enabling electronic intergovernment transfers.
The rules create a login based Centralized Accounting Portal for monthly GST fund settlements: the Principal Chief Controller of Accounts must upload State wise summaries within three working days of GSTN data, prompting provisional sanction orders. Central and State accounting and tax authorities must reconcile discrepancies by the 20th, GSTN must issue revisions by the 25th, and, if changed, a final State wise summary is uploaded within three days to trigger final sanction. The Central Accounting Authority sends electronic Inter Government Advice to the Reserve Bank, which effects transfers and issues a Clearance Memo; accounting entries follow accordingly.
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