Login | Register
GST Library
TaxReply Support
YouTube Videos
Twitter
Buy Premium Tax Domains
About Us
Contact Us
Our Services
TaxReply India Pvt Ltd
  AA

Govt substitutes the sub-rule 3 of Rule 11 of Goods and Services Tax Settlement of Funds Rules w.e.f. 04.06.2018. After substitution sub-rule 3 reads as under:

"(3) At any point of time in any particular financial year, the Central Government may, on the recommendations of the Council, provisionally settle any sum of integrated goods and services tax collected in that particular financial year which has not been settled so far which will be adjusted in the subsequent month(s)/year(s), based on the returns filed by the taxpayers."

Therefore, Central Government is now empowered to provisionally settle the unsettled amount of IGST collected in that financial year. However, which will be adjusted in the subsequent month(s)/year(s), based on the returns filed by the taxpayers."

Read Rule 11

Read all rules of Goods and Services Tax Settlement of Funds Rules

 


Add to Fav ☆
Add to favorites.
Best-in-class
Digital GST Library
Plan starts from
₹ 5,000/-
(For 1 Year)
Checkout all Plans
Unlimited access for
365 Days
✓ Subscribe Now
Author:

TaxReply


Jun 6, 2018


Post your comment here !

Login to Comment


Other Important Updates


☛   Read more updates...

  Hide
15
Jun
S
M
T
W
T
F
S
20 Jun

☑ Monthly | GSTR-3B

GSTR-3B for the m/o May 2025 (Monthly Taxpayer - Rule 61) - Either Compulsory taxpayer > 5 cr. or Voluntary taxpayer < 5 cr.

☑ Monthly | GSTR-5A

GSTR-5A for the m/o May 2025 [Return by OIDAR Service Providers - Rule 64.]

25 Jun

☑ Monthly | PMT-06

PMT-06 Monthly tax payment for May 2025 under QRMP Scheme [Rule 61(1)(ii) - Proviso to Section 39(7)].

Taxpayers have a choice to pay tax either, as per -  

A) Fixed Sum Method OR 
B) Self assessment basis subject to interest on short payment of taxes.
(Notification No.85/2020 - CT)
 
28 Jun

☑ Monthly | GSTR-11

GSTR-11 for the m/o May 2025 (Statement of inward supplies by persons having Unique Identification Number (UIN)).

30 Jun

☑ Annual | GSTR-4

GSTR-4 (Annual Return) for FY 2024-25 by Composite Taxpayer (Rule 62).