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Drc 03 filling applicability
can a person registered under composition scheme file drc 03 to make payment of pending tax arised due to errorounsely difference in sales turnover ? what are consequences and condition of drc 03 is filed without getting any intimation from Department
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What is DRC 03
Form DRC-03 enables a taxpayer to make voluntary payments, before issue of notice u/s 73 or 74 of the CGST Act, 2017 or within 30 days of issue of show cause notice (SCN). Facility to intimate payment made voluntarily or made against SCN .
Hence its nothing but its a bridge between Credit/Cash Ledger to Government Account. its an setoff tool which enable taxpayer to setoff his cash/credit ledger.
Form DRC-03 enables a taxpayer to make voluntary payments, before issue of notice u/s 73 or 74 of the CGST Act, 2017 or within 30 days of issue of show cause notice (SCN). Facility to intimate payment made voluntarily or made against SCN .
Hence its nothing but its a bridge between Credit/Cash Ledger to Government Account. its an setoff tool which enable taxpayer to setoff his cash/credit ledger.
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