Removal of negative balance in cash ledgers of some composition taxpayers
GSTN in its recent update dated 8th July 2022 informed that negative balance in cash ledger of composition dealer has been nullified and same has been communicated to the taxpayer via mail.
Content of the update can be read as under;
Due to the reversal of amount in the cash ledger of some composition taxpayers, the balance in the cash ledgers had become negative. The government has now decided that the negative balance in the cash ledgers of such taxpayers should be nullified. Accordingly, the negative balance has been nullified. All such taxpayers have been informed through email also.