Negative balance in cash ledgers of some composition taxpayers to be nullified
GSTN has issued an advisory on negative balance in cash ledgers of some composition taxpayers. According to it, due to the reversal of amount in the cash ledger of some composition taxpayers, the balance in the cash ledgers had become negative. The government has now decided that the negative balance in the cash ledgers of such taxpayers should be nullified.
Accordingly, the negative balance has been nullified. All such taxpayers have been informed through email also.
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