Welcome to your Ch 24: Payment of Tax (1 to 5)
2. Examine the following statement,
(i) ITC can be utilised for payment of tax, interest, late fees and penalty.
(ii) Cash can be utilised for payment of tax, interest, late fees and penalty.
3. Examine the following statement,
(i) Taxable person shall pay his tax on outward supply even if is not registered through temporary identification number.
(ii) Taxable person may take ITC on his inward supplies even if is not registered through temporary identification number.
4. Tax of Aug 2019 not paid: ₹ 10,000. Demand of tax u/s 74 for the period Dec 2018 not paid: ₹ 40,000. Tax of Sept 2019 not paid: ₹ 20,000. The registered person has only ₹ 25,000 and ITC of ₹ 15,000. Examine the following sequence of payment and determine which one is correct.
5. Examine the following statement,
(i) Tax incidence is deemed to be passed on to the recipient unless contrary is proved.
(ii) The balance in electronic cash ledger or electronic credit ledger may be refunded as per section 54.
