GST PMT-09 Form: All Questions Answered
Q1. What is GST PMT-09?
Ans. GST PMT-09 Form is a challan that is recently introduced by the Central Board of Indirect Taxes and Customs (CBIC) for shifting wrongly paid Input Tax Credit (ITC).
Q2. Why GST PMT-09 Form is required?
Ans. GST PMT-09 Form enables a registered taxable person to allocate any wrongly utilized amount of tax, interest, penalty, etc that is present in the e-cash ledger to the appropriate tax head under GST.
In simple words, in case if a taxpayer has wrongly paid SGST instead of CGST. He or she can now easily reallocated the wrongly paid amount from the SGST head to the CGST head using PMT-09 Form.
Q3. What is the eligibility criteria for filing GST PMT-09 Form?
Ans. There is as such no eligibility criteria for filing GST PMT-09 Form, any registered taxable person can transfer the balances available in the e-cash ledger using it.
Q4. When will it be available online?
Ans. GST PMT-09 Form was made available on 21st April 2020 on the GST Portal. The taxpayer can find the GST PMT-09 Form option under the e-cash ledger tab.
Q5. What is the Format of the GST PMT-09 Form?
Ans. GST PMT-09 Form consists of two different head major and minor. The taxpayer can choose the tax amount that he wants to allocate from one head to another. The taxpayer can easily transfer the available balance from one head to another. Here is the format of the PMT-09 Form:
Q6. What are the different heads under GST PMT-09 Form?
Ans. GST PMT-09 Form contains two heads namely major and minor, where;
(1) The major head includes:
(a) Integrated Goods and Services Tax (IGST)
(b) Central Goods and Services Tax (CGST)
(c) State Goods and Services Tax (SGST)
(2) The minor heads include:
(a) Tax
(b) Interest
(c) Penalty
(d) Fees, etc.
Q7. How GST PMT-09 Form will be helpful for business?
Ans. GST PMT-09 Form will help the business to save some bucks for their day-to-day business operation by reallocating the amount available in the e-Cash ledger. Let us understand this with an example:
Mr. XYZ had to pay 1,000 INR as CGST under the major head and 500 INR as a penalty under the minor head. Due to discrepancies found at the time of maintaining records, he came to know that he has wrongly paid 500 INR under CGST and 1,000 INR as a penalty under the minor head.
In this case, he needs to furnish GST PMT-09 to reallocate the amount from the penalty (minor head) to the CGST (major head).
It shall be noted that this reallocation of the amount can also be done from major head to minor head and vice-versa.
Through this, we can also conclude that the PMT-09 form will not only promote transparency in the books of account but will also ensure error-free maintenance of records.
Q8. What will happen post-filing GST PMT-09 Form?
Ans. After filing GST PMT-09 Form is filed:
(i) Application Reference Number (ARN) will be generated.
(ii) The taxpayer will receive a confirmation message on his registered mail ID or phone number.
(iii) e-Cash Ledger will get updated once the GST PMT-09 form is furnished.
Important Points to be Noted
Here is the list of Important notes that a taxpayer shall keep in mind at the time of filing the PMT-09 Form:
(i) GST PMT-09 Form can be utilized when payment is done under the wrong major or minor head.
(ii) It is not helpful at the time when wrongly paid challan has been used in GSTR-3B Form.
(iii) Only the tax amount present in the e-Cash ledger can be transferred.
(iv) Once the amount is used from the e-Cash ledger it cannot be used transferred again.
(v) Head under GST PMT-09 Form:
(a) The major head includes IGST, CGST, and SGST or UTGST.
(b) The minor head includes tax, interest, penalty, fees, etc.
