TaxTMI 
TaxTMI 
1% payment through Cash Ledger
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....% payment through Cash Ledger<br> Query (Issue) Started By: - Rajesh Kumar Dated:- 20-2-2022 Last Reply Date:- 25-2-2022 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>A taxpayer did not pay ....
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....1%tax through cash. He paid 100% by ITC. On being pointed out by department , he is ready to pay 1% by cash for earlier period. What to do about 1% already paid by ITC ? Because, it will be additio....
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....nal payment of 1% ? Reply By KASTURI SETHI: The Reply: Re-credit will be allowed. Reply By KASTURI SETHI: The Reply: After payment of 1 % in cash, you should apply for refund claim of 1 % of ITC o....
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....n the ground of paid in excess under Section 54 (8) of CGST Act and do not take on your own. Such re-credit is permissible. Reply By Shilpi Jain: The Reply: Is it possible that you pay the 1percent....
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.... of previous month's liability on cash in this month 3B by short utilising the ITC?. Something like a cumulative compliance? This will avoid refund trouble Reply By Shilpi Jain: The Reply: One ....
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....more stand is there is no provision in the law for restriction of utilisation of credit. This has been proposed only now. So no requirement to pay Reply By NARENDER YARRAGORLA: The Reply: Please rea....
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....d Rule 86(b), there some exceptions are there eg if u paid income tax more than ₹ 1.00 lakh for last two preceding Financial years Reply By Ganeshan Kalyani: The Reply: I agree with the view o....
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....f Sri Kasturi Sir.<br> Discussion Forum - Knowledge Sharing ....