Penalty-how to debit in electronic cash ledger-urgent
This query is : Resolved
26 August 2019
A vehicle was caught due to non compliance of E way Bill and we paid tax applicable and penalty thereon. This penalty paid is showing in Electronic Cash Ledger.
How to debit this amount from Electronic Cash ledger please suggest some measure.?
How to debit this amount from Electronic Cash ledger please suggest some measure.?
26 August 2019
The GST Electronic Cash Ledger would have credit entries for amounts deposited towards GST liability
To debit the GST electronic cash ledger account, taxpayer can generate a challan in Form GST PMT-06 on the GST Common Portal.
Based on the GSTIN of the taxpayer, details like name and address of taxpayer, email address and mobile number on the account would be auto populated.
The taxpayer must then enter the GST payment details like minor heads of accounts (Tax, Interest, Penalty, Fee, Others and Total).
Once the payment information is entered, the mode of payment must be entered along with the information of the payment depositor like Name, Designation, Signature and Date.
FORM GST PMT-06 generated at the Common Portal is valid for a period of fifteen days.
To debit the GST electronic cash ledger account, taxpayer can generate a challan in Form GST PMT-06 on the GST Common Portal.
Based on the GSTIN of the taxpayer, details like name and address of taxpayer, email address and mobile number on the account would be auto populated.
The taxpayer must then enter the GST payment details like minor heads of accounts (Tax, Interest, Penalty, Fee, Others and Total).
Once the payment information is entered, the mode of payment must be entered along with the information of the payment depositor like Name, Designation, Signature and Date.
FORM GST PMT-06 generated at the Common Portal is valid for a period of fifteen days.
26 August 2019
Challan is created indicating the amount of tax and penalty but the amount paid through challan is showing in Electronic cash ledger how to debit this amount,
26 August 2019
If a GST payment is successfully credited to the concerned government account, a Challan Identification Number (CIN) will be generated by the collecting Bank and the same would be indicated in the challan.
On obtaining the CIN from the collecting Bank, the GST payment amount is credited to the electronic cash ledger of the person on whose behalf the deposit has been made and a receipt is provided on the GST Common Portal.
Any GST payment made in cash or through bank reflects in Electronic Cash Ledger. After deduction of Input Tax Credit (ITC) any balance tax liability has to be paid using balance in Electronic Cash Ledger.
On obtaining the CIN from the collecting Bank, the GST payment amount is credited to the electronic cash ledger of the person on whose behalf the deposit has been made and a receipt is provided on the GST Common Portal.
Any GST payment made in cash or through bank reflects in Electronic Cash Ledger. After deduction of Input Tax Credit (ITC) any balance tax liability has to be paid using balance in Electronic Cash Ledger.
26 August 2019
Why are you posting reply that is not needed. I am asking that amount is lying in Electronic Cash ledger how to debit it against penalty
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Query regarding TDS on EPFO Higher Pension Arrears*
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
