According to a notification issued by CBIC via notification no. 31/2019 CT on 28th June 2019, PMT 09 is the prescribed challan for relocating the falsely or erroneously paid ITC.
For example, if one has paid CGST instead of SGST, they can rectify it by using this challan which is known as GST PMT 09.
GST PMT 09 is Live on GST Portal
PMT-09 was made LIVE on the GST Portal on 21 April 2020. GST PMT 09 form is now on the portal and the taxpayers can transfer the available electronic cash balance to other tax heads.
For example- SGST to CGST or penalty to interest, etc.
The taxpayer will have to login first
Next Step “Go to Services”
Then Select “Ledgers” thereafter –>Electronic Cash Ledger
Lastly, Select to —> “File GST PMT-09” For Transfer of Amount.
Eligibility to File a GST PMT 09 Online
Every taxpayer is eligible to file GST PMT 09 online.
That can be accessed on the GSTN portal.
When GST PMT 09 is live on the portal, You will be able to execute it. Thus here we can rectify the mistakenly wrongly paid tax readily and effortlessly.
Description of the Format of GST PMT 09
PMT 09 consists of minor and major heads.
Major heads refer to- Integrated tax, Central tax, State/UT Tax, and Cess.
Minor heads refer to- Tax, Penalty, Interest, Fee, and Others.
Here we mention the amount of tax that we wish to shift as in the details of the amount to be transferred from one account head to another.
The reallocation of tax can be from major head to minor head and vice versa.
Few Points to Remember About GST PMT 09
- It will be able to handle only one situation and that is when payment is done in the wrong head and not utilized.
- If the data in return itself is wrong the challan will be wrong but then it will be adjusted too.
- The amount once utilized and removed from cash ledger cannot be reallocated
- Challan is useful when payment is done under the wrong head but not utilized
- Such situations arise only in case of penalties.
- It’s impossible to edit GSTR 3B
