TaxTMI 
TaxTMI 
PAYMENT OF EXCESS REFUND
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....AYMENT OF EXCESS REFUND<br> Query (Issue) Started By: - SURYAKANT MITHBAVKAR Dated:- 26-12-2019 Last Reply Date:- 26-12-2019 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>We are making payme....
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....nt of excess refund (Export-ITC) through DRC-03 Can we make payment without interest by debiting our credit ledger or we have to make payment only in cash ledger. Please note that earlier we have re....
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....ceived excess refund from SGST in our Bank Account. Reply By Nandan Khambete: The Reply: You can debit Tax amount either from Electronic Credit ledger or Electronic Cash Ledger and debit interest an....
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....d or penalty as well in same DRC 03 Reply By Spudarjunan S: The Reply: Dear Sir, Taxes can be repaid through credit ledger through DRC-03, however when it comes to interest, you have to use cash le....
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....dger. Reply By Nandan Khambete: The Reply: Yes. I meant to say debit interest and penalty from Electronic Cash Ledger in same DRC 03 as well. Reply By Alkesh Jani: The Reply: Dear Experts, A thou....
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....ght may be given to Section 41(2) of CGST Act,2017. Thanks Reply By KASTURI SETHI: The Reply: I agree with Sh Alkesh Jani Ji. You have received excess refund in cash. So you are required to deposit....
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.... the Govt. dues in cash and not through Electronic Credit Account.<br> Discussion Forum - Knowledge Sharing ....