Page 5 - Ch9_POT & TDS-TCS

Ü Online payments made after 8 pm will be credited to the taxpayer's account on the same day.
Benefits to the GST Department:

Ü Revenue will come more rapidly into the Government Treasury.
Ü Logical tax collection data in electronic format.
Ü Speedy accounting and reporting.
Ü Electronic reconciliation of all receipts.

Ü Warehousing of digital challan.

02. Sec 49:- Payment of Tax, Interest, Penalty & Other amounts under GST

CCP 09.02.04.00
Answer the following questions:
1) How many types of electronic ledger/register are being maintained on GST common portal?
[Study Mat]
2) What are the differences between electronic cash ledger and electronic credit ledger?

Answer :-
1) Types of Electronic ledger/register are as follows:
a) Electronic cash ledger.

b) Electronic credit ledger.
c) Electronic liability register.

2) The differences between electronic cash ledger and electronic credit ledger are as follows:-

S.No. Electronic Cash Ledger Electronic Credit Ledger
1 Can be used for payment of tax, interest, fee, Can be used only for payment of output tax i.e.
penalty, and other amounts. IGST/ CGST/ SGST/ UTGST.
2 Credit to the ledger will be through payment Credit to the ledger will be through input tax
vide Challans. credit claimed

3 Refund for excess balance can be applied Refund for excess balance may be refunded
generally. only in case of zero rated supply or inverted
tax structure.

4 Refund is allowed in all cases i.e. no restrictions Refund is available only in 2 cases:
on refund. 1.Zero Rated Supply
2. Inverted Tax Structure

03. Sec 49 read with Rule 87:- Tax payment challan

CCP 09.03.05.00
What is the procedure for payment of tax for a casual taxable person or non resident taxable person who
is required to pay tax in advance for obtaining registration?
Answer:

Ü As the casual taxable person or non-resident taxable person are required to pay tax in advance for obtaining
registration, they do not have GSTIN because GSTIN is allowed only when a person is registered.
Ü Therefore, a casual taxable person or non resident taxable person are provided with a temporary

identification number using which the person can deposit estimated tax liability.

CA VISHAL BHATTAD 09850850800 www.vsmartacademy.com V’Smart Academy 141