Special deposit procedure permits quarterly filers to pre-deposit tax in initial months based on the preceding return. Notification enables notified registered persons who file quarterly returns to make an advance deposit in the electronic cash ledger during the first and/or second month of a quarter: the deposit equals thirty-five per cent of the tax liability shown in the preceding quarter's return for quarterly filers, or the tax liability of the last month of the immediately preceding quarter for monthly filers. Deposits are not required where existing electronic cash or credit ledger balances are adequate or where there is nil liability. Eligibility requires filing the return for a complete prior tax period.
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Provisions expressly mentioned in the judgment/order text.
Special deposit procedure permits quarterly filers to pre-deposit tax in initial months based on the preceding return.
Notification enables notified registered persons who file quarterly returns to make an advance deposit in the electronic cash ledger during the first and/or second month of a quarter: the deposit equals thirty-five per cent of the tax liability shown in the preceding quarter's return for quarterly filers, or the tax liability of the last month of the immediately preceding quarter for monthly filers. Deposits are not required where existing electronic cash or credit ledger balances are adequate or where there is nil liability. Eligibility requires filing the return for a complete prior tax period.
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