Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee
(ix) One cash ledger instead of separate cash ledger(s)
Issue:
Credit in Cash ledger is segregated into different heads which made assessee unable to set off the
cash credit of one head for other which can be possible if there is a uniform cash ledger . E.g.: If
a person has 1,000/- in interest & a short amount of Rs.100/- in late fee then again, he need to
transfer amount from Bank Account although an excess amount is lying Electronic cash ledger.
Suggestion
It is suggested that in cash ledger there should be only one cash ledger only like late fee, interest
and penalty should not be there. Let cash ledger act as a E-wallet but, not as a dedicated column
for the payment type. (late fee, interest, penalty adjustment should be possible in cash ledger.)
Read Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee
Related Topic on GST
Topic | Click Link |
GST Acts | Central GST Act and States GST Acts |
GST Rules | GST Rules |
GST Forms | GST Forms |
GST Rates | GST Rates |
GST Notifications | GST Act Notifications |
GST Circulars | GST Circulars |
GST Judgments | GST Judgments |
GST Press Release | GST Press Release |
GST Books | Best Books on GST in India |
GST Commentary | Topic wise Commentary on GST Act of India |
GST You Tube Channel | TaxHeal You Tube Channel |
GST Online Course | Join GST online Course |
GST History | GST History and Background Material |