Application for deferred payment or Instalments of GST in Form GST DRC-20. 2 options available to assessee who cannot pay entire amount of GST Act in one go
FORM GST DRC – 20 is an application form that can be filed by any taxpayer to apply for one of the following two options available to them in case they cannot pay the entire amount due under the GST Act in one go:
You can file FORM GST DRC – 20 when Demand is pending for recovery under GST Act against you and you wish to apply for deferred payment or payment in instalments of amount due under the GST Act.
No, application for deferred payment using FORM GST DRC – 20 cannot be filed against return related demands. You can file application for deferred payment using FORM GST DRC – 20 for other than return related demands, which are posted in Liability Register Part-B.
Only one “Application for Payment in Instalments” can be submitted against a particular Demand ID.
Yes. Maximum no of Installment allowed is 24.
Interest is calculated considering the following points:
Once you have filed FORM GST DRC – 20, following actions will take place on the GST Portal:
Once the officer has processed an application for deferred/payment in Instalments, following actions will take place on the GST Portal:
In case there is any default in payment of any one installment on its due date, the whole outstanding balance payable on such date will become due and payable forthwith, and will be liable for recovery without any further notice to the Taxpayer.
On the GST Portal, during the processing of applications for deferred payment or payment in instalments, the ARN/Case ID may undergo following Status changes:
1. Pending for Processing: When a taxpayer files the application and it is under work item of tax officer
2. Approved: When tax officer approves the application of taxpayer for deferred payment or payment in instalments
3. Application approved with modification: When tax officer approves the application with certain modifications
4. Rejected: When tax officer rejects the application of taxpayer for deferred payment or payment in instalments
After holding that the cash receipts and cash payments are unexplained, ad-hoc estimation of income can not be adopted –…
Dividing total turnover by 365 days and concluding that assessee could not have made such cash sale on a single…
NERIST Arunachal Pradesh invites EoI for Empanelment of Chartered Accountant firm North Eastern Regional Institute of Science and Technology, (NERIST)…
Sibsagar University invites Expression of Interest (EOI) for Appointment of Internal Auditor Sibsagar University invites Expression of Interest (EOI) from reputed…
In a recent judgment Andhra Pradesh High Court struck down Section 147A of the Income Tax Act, 1961 as unconstitutional.…
Bank was liable to pay compensation to borrower as it did not verify the progress of construction before loan disbursals…