GST taxpayers will now be able to inter-head transfer the amount available in the cash ledger
The Goods and Services Tax Network (GSTN) has provided a new facility on the GST portal, which will provide great relief to taxpayers. Taxpayers will now be able to transfer the amount available in the electronic cash ledger from one head to another. For this, the form GST PMT-09 has been made available on the GST portal. This facility will be beneficial for taxpayers, especially at a time when taxpayers are struggling with cash problems due to the Kovid-19 crisis.
What is Form GST PMT-09
Form GST PMT-09 is an invoice that allows taxpayers to transfer cash from more than one head (major or minor) to another head (major or minor). This helps in ‘intra-head’ or ‘inter-head’ transfer of the amount available in the electronic cash ledger. Major Head consists of CGST, SGST / UTGST, and IGST and Cess. At the same time, the minor head includes tax, interest, late fee, penalty, and other items.
Therefore, taxpayers can transfer the amount available in the electronic cash ledger from one Major Head to another Major Head even while keeping the Minor Head the same. At the same time, the amount can also be transferred from one minor head to another minor head without any change in the major head. Thus, taxpayers will not have to apply for refunds for mis-deposited tax under a particular head or deposit the amount in cash ledger again.
How to file Form GST PMT-09
Taxpayers are required to login to the GST Portal with valid credentials for filing Form GST PMT-09. After login, you can access the ‘Electronic Cash Ledger’ tab by selecting the ‘Services’ option, and then selecting ‘Ledgers’.
Once the form GST PMT-09 is successfully filed, the application reference number (ARN) is generated. An SMS and email is then sent to the taxpayer on the registered mobile and email ID. The electronic cash ledger updates after a successful filing. The correctly filled form will be available for viewing / downloading in the GST PMT-09 PDF format.
Taxpayers can get more information about the form PMT-09 through the detailed question-answer and user manual available in the help section of the GST portal. Set up in March 2013, the company is primarily mandated to provide goods and services tax (GST) to the central and state governments, taxpayers, and other stakeholders.