The Great Lockdown | Volume 1 | Issue 3
GSTN doing its bit in helping corporates manage liquidity by unveiling PM-09
Times have changed! Covid19 has brought back the old saying, ‘Cash is King’. With economic activities coming to grinding halt and expenses continuing to mount, irrespective of industry or sector, corporates are realizing negative cash flows. This is adding pressure on the very fundamental of going concern.
Central and state governments along with other regulatory authorities have been responding in a structured manner by providing relaxation, extension and amendments to existing legal framework. In view of same GSTN has unveiled for PM-09 to resolve cash flow issues by allowing intra-head or inter-head transfer of amount available in electronic cash ledgers.
What’s the Deal?
Flexibility to make multiple transfers of amounts available in electronic cash ledgers from more than one head (major or minor) to another head (major or minor).
Tax payers need not apply for refund of tax wrongly deposited under a particular head or deposit the amount again in cash ledger.
Need added support…?
GSTN has launched a new GST Help Desk toll free number (‘1800–103–4786’) and has discontinued the existing helpline number (‘0120–2488–8999’).
Grievance calls will be attended on all 365 days from 09:00 am to 09:00 pm.
Close the deal…
Accounts and Finance department should be updated on the development and should be asked to get in touch with GSTN to obtain added support, if needed.
