Treat payment in cash ledger as payment of GST: ICAI Representation

Treat payment in cash ledger as payment of GST: ICAI Representation ICAI has given representation to MOF, to Treat payment in cash ledger as payment of GST [Taxes]. The representation is given below for reference:

The Institute of Chartered Accountants of India

ICAI/IDTC/2020-21/Rep/14                                                                 10th September 2020

Shri SK Rahman, Joint Secretary. Goods and Services Tax Council, 5″ Floor, Tower 11, Jeevan Bharti Building. Janpath Road, Connaught Place, New Delhi-110 001 Esteemed Sir, Subject : Mechanism for accepting part payment of taxes and/or adjustment from cash ledger to boost revenue during COVID-19 time Greetings, The Institute of Chartered Accountants of India (ICAI) has been proactively supporting the Government by providing its suggestion, creating awareness and disseminating knowledge of GST among various stakeholders. Under the present system, the taxpayers is required to file return in GSTR-3B and make the payment through input credit, and short fall, if any, is met from the cash ledger. Only after filing the Return in GSTR-3B, it is presumed that payment has been made by the taxpayers and there is no relevance of the balances lying in the cash ledger of the registered person, although payment has already been credited to the Government.