GSTN removes Negative Balance in Cash Ledger for Composition Taxpayers

The Goods and Services Tax Network (GSTN) has removed Negative Balance in Cash Ledger for Some Composition Taxpayers.

Due to the reversal of amount in the cash ledger of some composition taxpayers, the balance in the cash ledgers had become negative. The government has now decided that the negative balance in the cash ledgers of such taxpayers should be nullified. Accordingly, the negative balance has been nullified. All such taxpayers have been informed through email also.

The Annual Return in GSTR-4 for the Financial Year 2021–2022 must be verified and submitted by July 28, 2022.