PMT 09 form will facilitate the transfer of amount available in electronic cash ledger

The Central Board of Indirect Tax and Customs (CBIC) recently introduced the PMT 09 form with a view to facilitating the transfer of cash from one head to another head of the electronic cash ledger. Using this form, taxpayers will be able to transfer any amount of tax, interest, penalty or cess accumulated in their electronic cash ledger under the heads of IGST, SGST and CGST. This facility can be availed up in the taxpayer’s electronic cash ledger itself. The GSTN said this new functionality is aimed at providing major relief to taxpayers, especially at the time of the COVID-19 crisis where taxpayers are facing limited access to cash resources.