Can liability Arisen in GSTR-9 of financial year 2018-2019 be adjusted from Credit Ledger Instead of Cash ledger when being settled Through DRC-03? For example, If liability regarding Reversal of excess Claimed ITC arose while Filing GSTR-9, Can we adjust the liability from ITC available in Credit Ledger instead of settling it through Cash Ledger while paying the Liability through DRC-03.
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Adjustment of Liability Through DRC-03
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Quick Summary
Yes, the liability can be adjusted through credit ledger.
While filing for DRC-03 form option of settling the liability through credit ledger is available.
While filing for DRC-03 form option of settling the liability through credit ledger is available.
Tax liability can be adjusted through Credit Ledger. Interest and penalty, if any, have to be paid through cash ledger only.
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