GST Deposit

Category: Law

GST Deposit for Non-Resident Taxable Persons, Non-resident taxable persons and casual taxable persons under GST are required to remit a deposit for GST registration. The amount of deposit for GST registration would equal the expected tax liability during the validity of the registration. Further, in case a non-resident taxable person requests for extension of GST registration, then tax must be deposited in advance based on the expected tax liability of the extension period. (Know more about the deposit required for GST registration). Once, the GST registration application is filed by a non-resident taxable person, an application reference number would be generated for payment of advance tax. On payment of tax, the electronic cash ledger of the taxpayer is credited and a GST registration certificate is provided.....