Special deposit procedure for GST quarterly filers enables provisional monthly deposits to secure tax liability compliance. Notification permits registered persons who opt for quarterly returns to make provisional deposits in the first and/or second month of a quarter equal to thirty five per cent of the tax liability debited from the electronic cash ledger in the preceding quarter (or based on the last month of the immediately preceding quarter for monthly filers), subject to exceptions where ledger balances are adequate or liability is nil, and conditional on furnishing the return for a complete preceding tax period.
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.
Special deposit procedure for GST quarterly filers enables provisional monthly deposits to secure tax liability compliance.
Notification permits registered persons who opt for quarterly returns to make provisional deposits in the first and/or second month of a quarter equal to thirty five per cent of the tax liability debited from the electronic cash ledger in the preceding quarter (or based on the last month of the immediately preceding quarter for monthly filers), subject to exceptions where ledger balances are adequate or liability is nil, and conditional on furnishing the return for a complete preceding tax period.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
