CBIC: METHOD PRESCRIBED FOR RE-CREDITING ELECTRONIC CREDIT LEDGER UTILISING FORM GST PMT-03A

In instances in which a taxpayer had given back an excess or erroneous refund, either voluntarily or after being notified by a tax official, they were unable to get a re-credit of the amount in the computerised credit ledger. In order to address this issue, GSTN has recently developed a new component of FORM GST PMT-03A that allows the appropriate officer to re-credit the amount in the taxpayer’s computerised credit ledger. In addition, sub-rule (4B) has been added to rule 86 of the Central Goods and Services Tax Rules, 2017 to provide for re-crediting of the electronic credit ledger when the taxpayer deposits the erroneous refund that has been approved.

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