DRC 03 Form - GST DRC 03 Steps, Common Mistakes & Important points
DRC-03 GST Form : Steps, Common Mistakes and Important points to Remember
During the process of filing GST returns, there may be chances that a taxman find additional liability left to pay. GST has provision that allow you to pay the liability using "FORM GST DRC-03".
FORM DRC-03 Is the facility at GST portal. It is made available so that taxpayers can pay additional liability voluntarily before issuance of Show Cause Notice (SCN) under sections (discuss in this article) or within 30 days of Show Cause Notice (SCN) or statement issued by tax official.
Steps for Payment through Form DRC-03 in Common Portal
Step 1: Login into GST Portal and navigate to Services> User Services> My Applications.
Step 2: In"Application Type", select "Intimation of Voluntary Payment- DRC 03" from drop-down and click on "NEW APPLICATION". https://babatax.com
Note: Draft of Application for intimation of voluntary payment can be saved for a maximum period of 15 days. To view the saved application, Go to Services> User Services> My Saved Applications option.
Step 3: Select "Cause of Payment i.e. (Voluntary, SCN, Annual return, Reconciliation statement and Others)." If Payment is made, then give Payment Reference Number (PRN).
Step 3(i): If Voluntary Payment (when excess credit claim etc.) is selected> select the appropriate section and Financial Year from the list.
Step 3(ii): If SCN (When notice received from department) is selected> Select appropriate section and Financial Year; enter SCN Reference Number and date (either system generated or manual)
Step 3(iii): If Annual return (during annual return filling found any liability) is selected> Choose appropriate section and Financial Year.
Step 3(iv): If Reconciliation Statement (during annual GST audit found any liability) is selected> Choose appropriate section and Financial Year.
Step 3(v): If Other (any other reason not in sections) is selected> Provide appropriate section and Financial Year and others if any.
drc 03 challanStep 4: After entering all the information above properly, select the period and relevant Act below and details of payment including interest and penalty. A taxman can give additional details by clicking on ‘Add’. After that click ‘Proceed to Pay’.
Read the Full steps here
DRC 03 Form - GST DRC 03 Steps, Common Mistakes & Important points
Points to Remember:- In case of voluntary payment after issue of SCN or statement, remember 30 days of time has not lapsed since SCN is issued.
- All the payments need to be made either from input tax credit available in electronic credit ledger or cash balance available in the electronic cash ledger. But, in case of interest and penalties ITC cannot be used. It has to be compulsorily paid in cash.
- GST Portal does not allow for making partial payments against a liability declared volu....
Common Errors/Mistakes/Questions:
Error: "Enter the correct amount (Sum of Cash/ITC) that is equal to the amount to be paid towards liability", while making payment.
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