GST Electronic Cash Ledger The Electronic Cash Ledger is an account of the taxpayer that is maintained by the GST system that reflects the cash deposits in recognized banks and payments of taxes and other dues made by the taxpayer. This contains a summary…
Electronic Liability Register All the accrued return related liabilities are displayed in the Electronic Liability Register. This register is divided into two parts namely Part I and Part II. This article discusses the provisions related to this mechanism. Part I…
Using Input Tax Credit for Payment of GST Demand Utilization of cash or Input Tax Credit for payment of demand denotes the payments of non-return related liabilities. These liabilities are created through the generation of Demand ID by tax officials,…
Input Tax Credit Refund - Inverted Tax Structure GST refund can be claimed by the taxpayer for input tax which is the central tax (CGST), state tax (SGST), integrated tax (IGST) or tax paid by a person having GST registration…
Post by: Renu Suresh in Income Tax
Interest on Excess Income Tax Refund – Section 234D At times it may happen that the assessee is granted an excess income tax refund. Section 234D of Income Tax Act provides for levy of interest on excess refund granted to…
Post by: IndiaFilings in GST
Refund of Input Tax Credit under GST Under GST, the taxpayer registered with GST can claim the refund for any tax and interest paid or any other amount of GST by making an application for GST refund before 2 years…
