DRC 03 PAYMENT SET OFF
The Impulsive Shop (43 Points)
22 August 2019
Payment is being set off in DRC 03 why the cash balance ia not reducing anyone have idea about it??
7 Replies
Aditi Badaya
(Student)
(26 Points)
Replied 22 August 2019
You can offset your liability with credit or cash ledger. After off setting the DRC 03 you have to first submit your DRC with an EVC or DSC
The Impulsive Shop
(43 Points)
Replied 22 August 2019
does cash balance reduces after submitting by evc???
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 23 August 2019
@ Aditi
if you are setting off the liability created in Annual Return , you cannot setoff it by credit ledger , it's mandatory to setoff from cash ledger ( refer Notification 74/2018 CT)
if you are setting off the liability created in Annual Return , you cannot setoff it by credit ledger , it's mandatory to setoff from cash ledger ( refer Notification 74/2018 CT)
The Impulsive Shop
(43 Points)
Replied 23 August 2019
hii pankaj sir plesse tell whether cash balance in electronic cash ledger reduces after sett off in drc 03?
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 23 August 2019
YES ..........THE CASH LEDGER IS DEBITED
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