GST registered taxpayers can view their GST liabilities and available Input Tax Credit all at one place by logging into the GST common portal. From the dashboard, every taxpayer can access his/her electronic register called the ‘Electronic Liability Register’ and two electronic ledgers called ‘Electronic Cash Ledger’ and ‘Electronic Credit Ledger’. In this article, we will elaborate on the Electronic Liability Register/Form GST PMT-01:
As per Rule 85(1) of the CGST Rules 2017, the electronic liability register as specified under Section 49(7) of the CGST Act 2017 should be maintained in Form GST PMT-01. Every person who is liable to pay tax, interest, penalty, late fee or any other amount on the GST portal has to maintain this register. All the amounts payable by the taxpayer will be debited to the electronic liability register.
The following amounts will be debited from the electronic liability register of the taxpayer:
- Tax, interest, penalty, late fee, or any other amount payable as per the GST returns furnished by the taxpayer,
- Tax, interest, penalty, late fee, or any other amount payable as determined by an authorised officer, while carrying out any proceedings under the Act, or as calculated/ascertained by the officer,
- Tax and interest payable as a result of a mismatch of ITC under Section 42 (Matching, reversal and reclaim of the input tax credit), or Section 43 (Matching, reversal and reclaim of reduction in output tax liability) or Section 50 (Interest on delayed payment of tax) of the CGST Act 2017,
- Any amount of interest that accrues over time,
- The amount deducted by the Government authorities from the amount paid to the supplier of taxable goods or services or both as per Section 51 (Tax Deducted at Source) of the CGST Act 2017, when the total value of such supply exceeds INR 2,50,000,
- The amount required to be collected by every electronic commerce operator as per Section 52 (Tax Collected at Source)of the CGST Act 2017, on the net value of taxable supplies made through it by other suppliers when the consideration for such supplies is to be collected by the operator,
- The amount payable on a reverse charge basis,
- The amount payable under Section 10 (Composition levy) of the CGST Act 2017.
The Electronic Liability Register/Form GST PMT-01 is maintained in two parts-
Liabilities like tax, interest, penalty, late fee, or other amounts payable as per the GST returns and the payments made against them through electronic credit/cash ledger will be logged in this part of the register. The format of Part-I of Form GST PMT-01 is as below:
Main elements in Part-I of PMT-01 are:
- Reference No:
A Unique Identification Number (UIN) is generated towards each debit and credit entry in the electronic cash or credit ledger. This UIN will also be specified with the corresponding entry denoting the payment of the liability, in the electronic liability register.
- Ledger used for discharging liability:
This section will specify the source ledger (e.g., electronic cash ledger) from where the debit/credit amount is populated.
Along with the actual liabilities as per the returns, reverse charge mechanism, etc. liabilities arising while opting for composition scheme and cancellation of registration will also be covered in this part of the form.
The balance will be arrived at by reducing the various credits (amount paid) from the debits (amount payable).
Liabilities that are not related to GST returns will appear in this part of the form, and the payment made against them through the electronic credit/cash ledger will also be logged into this part of the register. The format of Part-II of Form GST PMT-01 is as below:
Here. ‘Other than Return Related Liabilities’ include the following:
- Relief: The relief provided by the Appellate Authority or Appellate Tribunal or the Court towards any demand debited in the electronic liability register will reduce the demand, and the register will be credited accordingly.
- Refund: Any refund of pre-deposit which can be claimed for a particular demand ID, if the appeal is allowed, is recorded in this
- Adjustments: If a taxpayer makes payment of tax, interest and penalty as specified in the show cause notice or demand order, then the amount of penalty imposed or liable to be imposed will reduce partially or fully to the extent of payment made by the taxpayer. A simultaneous debit/credit in the electronic liability register will be created accordingly.
- Subject to the provisions of Section 49A (Utilisation of input tax credit subject to certain conditions) and 49B (Order of utilisation of input tax credit) of the CGST Act 2017, the payment of every liability as per the return, by a registered person, is made by debiting the electronic credit ledger maintained as per Rule 86 or the electronic cash ledger maintained as per Rule 87. Parallelly, the electronic liability register will get credited by the same amount that is paid.
- In case any discrepancy is observed by the taxpayer, the taxpayer has to communicate the same to the relevant officer of the applicable jurisdiction by filing Form GST PMT-04 on the common portal.