Payment of tax & intimation thereof (section73(5) & 74(5) )-How?

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..... Payment of tax & intimation thereof (section73(5) & 74(5) )-How?
Query (Issue) Started By: - SUSHIL BANSAL Dated:- 13-10-2023 Last Reply Date:- 23-10-2023 Goods and Services Tax - GST
Got 3 Replies
GST
Dear experts, Section 73(5) & 74(5) says.. The person chargeable with tax may, before service of notice under sub-section (1) or, as the case may be, the statement under sub-section ( .....

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..... 3), pay the amount of tax along with interest payable thereon under section 50 on the basis of his own ascertainment of such tax or the tax as ascertained by the proper officer and inform the proper officer in writing of such payment. On the above provisions I have certain querries: 1. suppose one dealer claimed excess ITC in one month & then revered in subsequent month & ITC got adjusted..wheth .....

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..... er this reversal will be treated as tax paid.In another situation if the excess ITC reversed & the tax paid in cash through 3B, whether this will be treated as tax paid. 2. In the section it is mentioned that "and inform the proper officer in writing of such payment."…what will be the process of giving information. Whether 3B filed (reversing excess ITC) is to be treated as intimations.Whe .....

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..... ther the GSTR-9 table 12 (reversal in next FY) will be treated as information. DRC-03 is treated as tax paid & intimation. But in above case no DRC-03. Plz guide how to deal the case,any circular/case laws in the matter. Reply By KASTURI SETHI: The Reply: (i) Inform in writing to the jurisdictional GST Range Officer with a copy to the Adjudicating Authority. (ii) Filing of return is also due .....

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..... intimation de jure. There are case laws to this effect on this issue. (pertaining to pre-GST Regime). Reply By SUSHIL BANSAL: The Reply: Sir, if any case laws in your knowledge plz guide me Reply By Shilpi Jain: The Reply: This provision specifically mentions that the proper officer has to be informed in WRITING. So please proceed to write to the officer to intimate the payment. However, i .....

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..... n cases where there is short payment in one month and subsequent month it is paid, I do on think it would be required to intimate in writing. This provision may not contemplate these kind of situations being covered hereunder.
Discussion Forum - Knowledge Sharing .....

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