GSTN allows inter-head cash transfer for taxpayers; resolves cash flow issues : 06-05-2020

GSTN added that a taxpayer can now transfer the amount available in an electronic cash ledger from one major head to another major head, keeping the minor head the same.

The Good and Services Tax Network (GSTN) on Tuesday said it has activated a new functionality in its system that will allow taxpayers to transfer cash available under one major head to another in the electronic cash ledger.

This has been a long-standing demand of taxpayers, who have said that errors while filing the return would often lead to cash being deposited in the wrong head, which could then be retrieved only through a cumbersome refund process. The situation created a cash flow problem for many small businesses.

Source : Times of India