Special deposit procedure for provisional tax requires electronic cash ledger deposits to secure monthly GST liabilities under specified conditions. Notification prescribes a special deposit procedure allowing certain registered persons who file quarterly returns to meet provisional tax in the first and/or second month of a quarter by depositing into the electronic cash ledger an amount equivalent to thirty five per cent of the tax liability shown in the preceding quarter's return (or the last month of the prior quarter for monthly filers). Exemptions apply where ledger balances suffice or liability is nil, and eligibility requires filing the complete preceding tax period return. Effective from 1 January 2021.
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 provisional tax requires electronic cash ledger deposits to secure monthly GST liabilities under specified conditions.
Notification prescribes a special deposit procedure allowing certain registered persons who file quarterly returns to meet provisional tax in the first and/or second month of a quarter by depositing into the electronic cash ledger an amount equivalent to thirty five per cent of the tax liability shown in the preceding quarter's return (or the last month of the prior quarter for monthly filers). Exemptions apply where ledger balances suffice or liability is nil, and eligibility requires filing the complete preceding tax period return. Effective from 1 January 2021.
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