CBIC Prescribes Manner Of Re-Credit In Electronic Credit Ledger Using FORM GST PMT-03A
The Central Board of Indirect Taxes and Customs has issued a circular prescribing the manner of re-credit in an electronic credit ledger using FORM GST PMT-03A. In order to resolve the issue, GSTN has recently developed a new functionality of FORM GST PMT-03A which allows proper officers to re-credit the amount in the electronic credit ledger of the taxpayer. In respect of the categories of refund sanctioned erroneously, re-credit of the amount in the electronic credit ledger can be done through FORM GST PMT-03A, on deposit of the erroneous refund along with interest and penalty. The proper officer shall re-credit an amount in the electronic credit ledger, equivalent to the amount of erroneous refund so deposited by the registered person, by passing an order on FORM GST PMT-03A.
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