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GST Network (GSTN) on Tuesday said it has developed a new functionality on the portal through which taxpayers can now transfer amount available under one head to another in the electronic cash ledger. Form GST PMT-09 provides flexibility to taxpayers to make multiple transfers from more than one head (major or minor) to another head (major or minor) and helps with the intra-head or inter-head transfer of amount available in electronic cash ledger.
The 'major' heads are Central GST, State or Union Territory GST, Integrated GST and cess, whereas the 'minor' heads defined in the law are tax, interest, late fee, penalty and others. In a statement, GSTN said this new functionality on the GST portal is aimed at providing a major relief to taxpayers, especially at the time of the COVID-19 crisis when there is limited access to cash resources. "Thus, the taxpayers need not apply for refund for tax wrongly deposited under a particular head or deposit the amount in cash ledger again," GSTN said.