GSTN allows taxpayers to transfer cash ledger amount
Hemlata Khandenwal / 2020-05-13 09:09:10

What is cash ledger GST?

Cash ledger is a type of electronic cash ledger under GST, under which data of all cash and electronic transactions made by the taxpayer is available.

How can a Taxpayer transfer a cash ledger amount?

Taxpayers can now transfer the amount available in the electronic cash ledger from one head to another. For this, the form GST PMT-09 has been made available on the GST portal. This facility will be beneficial for taxpayers, especially at a time when taxpayers are struggling with cash problems due to the Covid-19 crisis.

At the end, GST has allowed the taxpayer in the crisis of this Covid-19 epidemic, that the taxpayer can now transfer his amount by filing FORM GST PMT-09 which is available in cash Ledger from one head to another one head.

What is Form GST PMT-09?

Form GST PMT-09 is an invoice that allows taxpayers to transfer cash from more than one head (major or minor) to another head (major or minor). This helps in 'intra-head' or 'inter-head' transfer of the amount available in the electronic cash ledger. Major Head consists of CGST, SGST / UTGST, and IGST and Cess. At the same time, the minor head includes tax, interest, late fee, penalty, and other items.

Therefore, taxpayers can transfer the amount available in the electronic cash ledger from one Major Head to another Major Head even while keeping the Minor Head the same. At the same time, the amount can also be transferred from one minor head to another minor head without any change in the major head. Thus, taxpayers will not have to apply for refunds for Mis-deposited tax under a particular head or deposit the amount in cash ledger again.

Also read about high alert to taxpayer on fake message

How to file Form GST PMT-09?

Taxpayers now able to file GST PMT-09 FORM on GST portal, they can file the form by following these steps which are described here:

Taxpayers are required to login to the portal of GST with valid credentials to file Form GST PMT-09. After login, GST registration holders can access the 'Electronic Cash Ledger' tab by Choosing the 'Services' option, and then select 'Ledger' there will be some parts in the ledger.

Once the Form GST PMT-09 is successfully entered, the application reference number (ARN) is generated. An SMS and email are then sent to the taxpayer on the registered mobile and email ID. Electronic Cash Ledger update after successful filing. A correctly filled form will be available for viewing / downloading in GST PMT-09 PDF format. From these steps, the taxpayers can transfer their ledger amount. To clarify any doubt read GST News  

How many parts are there in cash ledger in GST?

There are three parts available in the cash ledger

1. The first part is Cash Ledger Balance -

Available for transfer: 

In this section, The GST payer will be able to see only the balance which is available for transfer in the electronic cash ledger.

2. The second is Cash Ledger Balance - 

For a preview of updated balance:

In this section, taxpayers will be able to see the updated balance of the cash ledger after making changes.

3. The third part is Add records: 

In this section, a taxpayer has to update two columns, such as 'Transfer Amount From' and another one is 'Transfer Amount To``.  By this part, the taxpayer can add his records which are done by him during his business.

By following these steps taxpayers now can transfer their amount of electronic cash ledger on the GST portal if, a taxpayer needs help related issues of GST then taxpayers can contact directly on +91 8766393412 the given mobile number also available to purchase the service of GST returns filing from the official website.

Leave your comment