{"id":4962,"date":"2020-12-20T17:46:43","date_gmt":"2020-12-20T12:16:43","guid":{"rendered":"https:\/\/taxclick.org\/?p=4962"},"modified":"2020-12-20T17:47:39","modified_gmt":"2020-12-20T12:17:39","slug":"special-procedure-making-payment-35-tax-liability-first-two-months","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/gst\/special-procedure-making-payment-35-tax-liability-first-two-months\/","title":{"rendered":"Special procedure for making payment of 35% as tax liability"},"content":{"rendered":"\n\n\n\n\n
\n

S.No.609 [No.85\/2020\u2013Central Tax] Dated: 10th November, 2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/span><\/td>\n<\/tr>\n
\n

Government of India
\nMinistry of Finance
\n(Department of Revenue)
\nCentral Board of Indirect Taxes and Customs<\/strong><\/span><\/p>\n

G.S.R. 701(E).-<\/strong>\u00a0In exercise of the powers conferred by\u00a0section 148\u00a0read with sub-section (7) of\u00a0section 39\u00a0of the\u00a0Central Goods and Services Tax Act, 2017<\/strong>\u00a0(12 of 2017), (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby notifies the registered persons, notified under proviso to sub-section (1) of\u00a0section 39\u00a0of the said Act, who have opted to furnish a return for every quarter or part thereof, as the class of persons who may, in first month or second month or both months of the quarter, follow the special procedure such that the said persons may pay the tax due under proviso to sub-section (7) of\u00a0section 39\u00a0of the said Act, by way of making a deposit of an amount in the electronic cash ledger equivalent to, –<\/span><\/p>\n

(i) thirty five per cent. of the tax liability paid by debiting the electronic cash ledger in the return for the preceding quarter where the return is furnished quarterly; or<\/span><\/p>\n

(ii) the tax liability paid by debiting the electronic cash ledger in the return for the last month of the immediately preceding quarter where the return is furnished monthly:<\/span><\/p>\n

Provided that no such amount may be required to be deposited-<\/span><\/p>\n

(a) for the first month of the quarter, where the balance in the electronic cash ledger or electronic credit ledger is adequate for the tax liability for the said month or where there is nil tax liability ;<\/span><\/p>\n

(b) for the second month of the quarter, where the balance in the electronic cash ledger or electronic credit ledger is adequate for the cumulative tax liability for the first and the second month of the quarter or where there is nil tax liability:<\/span><\/p>\n

Provided further that registered person shall not be eligible for the said special procedure unless he has furnished the return for a complete tax period preceding such month.<\/span><\/p>\n

Explanation-<\/em>\u00a0For the purpose of this notification, the expression \u201ca complete tax period\u201d means a tax period in which the person is registered from the first day of the tax period till the last day of the tax period.<\/span><\/p>\n

2. This notification shall come into force with effect from the 1st day of January, 2021.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

S.No.609 [No.85\/2020\u2013Central Tax] Dated: 10th November, 2020 \u00a0 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs G.S.R. 701(E).-\u00a0In exercise of the powers conferred by\u00a0section 148\u00a0read with sub-section (7) of\u00a0section 39\u00a0of the\u00a0Central Goods and Services Tax Act, 2017\u00a0(12 of 2017), (hereinafter referred to as the said Act), the … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[15],"tags":[231],"yoast_head":"\nSpecial procedure for making payment of 35% as tax liability - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/gst\/special-procedure-making-payment-35-tax-liability-first-two-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Special procedure for making payment of 35% as tax liability - All About Finance\" \/>\n<meta property=\"og:description\" content=\"S.No.609 [No.85\/2020\u2013Central Tax] Dated: 10th November, 2020 \u00a0 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs G.S.R. 701(E).-\u00a0In exercise of the powers conferred by\u00a0section 148\u00a0read with sub-section (7) of\u00a0section 39\u00a0of the\u00a0Central Goods and Services Tax Act, 2017\u00a0(12 of 2017), (hereinafter referred to as the said Act), the ... 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