Clause 98 - Amendment of section 49. - Finance (No. 2) Bill, 2019

Amendment of section 49. 98. In section 49 of the Central Goods and Services Tax Act, after sub-section (9), the following subsections shall be inserted, namely:- (10) A registered person may, on the common portal, transfer any amount of tax, interest, penalty, fee or any other amount available in the electronic cash ledger under this Act, to the electronic cash ledger for integrated tax, central tax, State tax, Union territory tax or cess, in such form and manner and subject to such conditions and restrictions as may be prescribed and such transfer shall be deemed to be a refund from the electronic cash ledger under this Act. (11) Where any amount has been transferred to the electronic cash ledger under this Act, the same shall be deemed to be deposited in the said ledger as provided in sub-section (1). .