Payment of tax, interest, penalty and other amounts ,Section 49 of CGST Act, 2017
Click here to know GST rate of your goods or service
The below post explains about Payment of tax, interest, penalty and other amounts under section 49 of CGST Act,2017.
Section 49 of CGST Act, 2017 explains Payment of tax, interest, penalty and other amounts as below: (The amendments if any will also be updated here soon).
The extract of Section 49 of CGST Act,2017 quoted below:
49 Payment of tax, interest, penalty and other amounts
49. (1) Every deposit made towards tax, interest, penalty, fee or any other amount by a
person by internet banking or by using credit or debit cards or National Electronic Fund
Transfer or Real Time Gross Settlement or by such other mode and subject to such conditions
and restrictions as may be prescribed, shall be credited to the electronic cash ledger of such
person to be maintained in such manner as may be prescribed.
(2) The input tax credit as self-assessed in the return of a registered person shall be
credited to his electronic credit ledger, in accordance with section 41, to be maintained in
such manner as may be prescribed.
(3) The amount available in the electronic cash ledger may be used for making any
payment towards tax, interest, penalty, fees or any other amount payable under the provisions
of this Act or the rules made thereunder in such manner and subject to such conditions and
within such time as may be prescribed.
(4) The amount available in the electronic credit ledger may be used for making any
payment towards output tax under this Act or under the Integrated Goods and Services Tax
Act in such manner and subject to such conditions and within such time as may be prescribed.
(5) The amount of input tax credit available in the electronic credit ledger of the registered
person on account of––
(a) integrated tax shall first be utilised towards payment of integrated tax and the
amount remaining, if any, may be utilised towards the payment of central tax and State
tax, or as the case may be, Union territory tax, in that order;
(b) the central tax shall first be utilised towards payment of central tax and the
amount remaining, if any, may be utilised towards the payment of integrated tax;
(c) the State tax shall first be utilised towards payment of State tax and the
amount remaining, if any, may be utilised towards payment of integrated tax;
(d) the Union territory tax shall first be utilised towards payment of Union territory
tax and the amount remaining, if any, may be utilised towards payment of integrated tax;
(e) the central tax shall not be utilised towards payment of State tax or Union
territory tax; and
(f) the State tax or Union territory tax shall not be utilised towards payment of
central tax.
(6) The balance in the electronic cash ledger or electronic credit ledger after payment
of tax, interest, penalty, fee or any other amount payable under this Act or the rules made
thereunder may be refunded in accordance with the provisions of section 54.
(7) All liabilities of a taxable person under this Act shall be recorded and maintained in
an electronic liability register in such manner as may be prescribed.
(8) Every taxable person shall discharge his tax and other dues under this Act or the
rules made thereunder in the following order, namely:––
(a) self-assessed tax, and other dues related to returns of previous tax periods;
(b) self-assessed tax, and other dues related to the return of the current tax period;
(c) any other amount payable under this Act or the rules made thereunder
including the demand determined under section 73 or section 74;
(9) Every person who has paid the tax on goods or services or both under this Act
shall, unless the contrary is proved by him, be deemed to have passed on the full incidence
of such tax to the recipient of such goods or services or both.
Explanation.––For the purposes of this section,—
(a) the date of credit to the account of the Government in the authorised bank
shall be deemed to be the date of deposit in the electronic cash ledger;
(b) the expression,—
(i) “tax dues” means the tax payable under this Act and does not include
interest, fee and penalty; and
(ii) “other dues” means interest, penalty, fee or any other amount payable
under this Act or the rules made thereunder.
The above information clarifies about Payment of tax, interest, penalty and other amounts under section 49 of CGST Act,2017.
If you have any comments about Section 49 of CGST Act, 2017 explaining Payment of tax, interest, penalty and other amounts, share below your thoughts:
Click here to know GST rate of your goods or service
GST Exemption list of goods and services
Find HSN number or Service tariff code for GST
GST registration guidelines
Indian GST Laws
How to export your goods?
How to export goods from India?
Learn GST in regional language
Export benefit schemes in India
How to import goods to India?
Section 3 of CGST Act, 2017
Appointment of officers, CGST Act,2017
CGST Act, 2017 Power of officers
Tax liability on composite and mixed supplies under, CGST Act,2017
CGST Act, Levy and collection of GST
GST rate for tramway rolling stock and parts, Vehicles other than railway
Rate of GST applicable for Aircraft and parts, spacecraft and parts
GST payable for sale of Boats, floating structures and ships
GST for Medical, Surgical, optical, photographic and cinematographic products
GST payable for Watches, clocks, watch parts and clock parts
Rate of GST payable for sale of Musical instruments, parts and accessories
Export procedures and documentation
Reconciliation of Reciepts under GST Tax
GST tax accounting code for CGST,SGST,IGST and Additional Tax
Details of Challan for GST Tax payment
CGA suggestions under GST Tax system in India
Accounting system under GST Tax payments
How many major heads of accounts in GST Tax
Recommended instructions to bank for collecting GST Tax
GST collection Banks
Travelers to India under import duty exemption, Frequently Asked Questions Part 2
Triangular export
Triangular shipment
Types of Insurance Documents.
How to make DA mode of payment safe
How to make delay in delivery of Shipment?
How to minimize import cargo clearance time? An open logic proposal to WTO
What happens, if cargo not cleared by importer
What happens, if HAWB number marks wrongly
Zero percentage GST on sale of Human hair
Reduced GST on Bones and horn cores business
Nil rate of GST on sale of Bones and horn cores
No need pays GST on sale of hoof meal
Zero rate of GST on sale of bone grist
No need to pay GST on sale of bone meal
Zero percentage of GST on sale of horn meal
Zero percentage GST on purchase of Semen
Nil rate on sale of frozen semen
Zero rate of GST on sale of tuberous roots
No GST on sale of rhizomes
Zero rate of GST on sale of plant Tubers
Nil rate tariff of GST on Plant Bulbs
No need to pay GST on crowns
No need to pay GST on sale of corms
No GST on sale of chicory plants and roots
Zero rate of GST on sale of flower buds suitable for bouquets
Zero rate of GST on sale of flower buds
Waived GST on purchase of flower buds for ornamental purposes
No GST payable on sale of Cut flowers for bouquets
No need pays GST on sale of Cut flowers
Zero percent GST on purchase of Cut flowers for ornamental purposes
Nil rate tariff of GST on sale of mosses and lichens, suitable for bouquets or for ornamental purposes
Zero rate of GST on sale of jar booty
Zero rate of GST on sale of grasses, suitable for bouquets or for ornamental purposes
Nil tariff of GST on sale of Foliage branches and other parts of plants
Nil tariff GST on sale of dry plant
No need to pay GST on purchase of dry flower
No need paying GST on sale of Potatoes
Nil tariff GST on sale of Tomatoes
Nil tariff of GST on sale of leeks and alliaceous vegetables