The process for re-crediting the amount in the electronic credit ledger using FORM GST PMT-03A has been notified by the Tamil Nadu GST Department.
If the refund is wrongly sanctioned, the amount paid by the taxpayer, along with interest and penalty, can be re-credited to the GST electronic credit ledger through Form PMT-03A.
It came after the department learned that the taxpayers are facing hardships in taking credit of the amount in the electronic credit ledger in cases where any extra or incorrect refund was granted to them and was paid back by them either themselves or the tax officer pointed it.
To address this issue, GSTN has added new functionality of FORM GST PMT-03A, and with that, proper officers can re-credit the said amount in the taxpayer’s electronic credit ledger.
Additionally, Rule 86(4B) of the Tamil Nadu Goods and Services Tax Rules, 2017 has been also inserted to provide re-credit in the electronic credit ledger in cases where the taxpayer has deposited the wrong refund.
The department has notified the procedure to maintain uniformity in the execution of the provisions of the law across all the field formations.
The taxpayer will have to deposit the amount of incorrect refund along with fitting interest and penalty, wherever required. It can be done through Form GST DRC-03 by debiting the amount from the electronic cash ledger.
At the time of making payment through Form GST DRC-03, the taxpayer will also have to mention the reason for the payment in the given text box as a deposit of the wrong refund of unutilized ITC or credit of the wrong refund of IGST received in contravention of rule 96(10) of TNGST Rules.
When an automated functionality is developed on the portal, the taxpayer shall make a written request to the jurisdictional proper officer to re-credit the amount equal to the amount of refund, thus leading to pay-back into the electronic credit ledger through Form GST DRC-03.
The proper officer may, on being satisfied, that the full amount of wrongful refund along with applicable interest and penalty has been paid by the registered person in Form GST DRC-03 through debit in electronic cash ledger, amount through debit in electronic cash ledger Will credit again. credit bookkeeping.
If the proper officer gets satisfied, that the complete amount of wrongful refund along with interest and penalty has been paid by the taxpayers in Form GST DRC-03 through debit in an electronic cash ledger, then the amount will be re-credited in the electronic credit ledger.
Read Also: How to File GST Refund Claims Manually? Step by Step Guide
This amount shall be equal to the amount of the wrong refund deposited by the registered person by passing an order in Form GST PMT-03A, preferably within a period of 30 days, from the date of receipt of the request for re-credit. From the date of payment of the wrong refund amount so deposited or the full amount of wrongful refund along with applicable interest and penalty.
The amount will be equal to the faulty refund so deposited by the taxpayer, by passing an order in FORM GST PMT-03A, preferably within a period of 30 days from the date of receipt of the request for re-credit of the erroneous refund amount so deposited or from the date of payment of the full amount of the erroneous refund along with applicable interest and penalty.
This amount shall be equal to the defective refund deposited by the taxpayer by utilising Form GST PMT-03A, preferably within 30 days either from the date of receipt of the request for re-credit or from the date of payment of the incorrect refund amount along with applicable interest and penalty
