As per Rule 141 of the CGST Rules 2017, in case if the goods seized are of perishable or hazardous in nature of the taxpayer, the said goods can be released, if the owner of the goods pays an amount equivalent to the market price of such goods or things or the amount of tax, interest, and penalty that is or may become payable. On submission of proof of payment, the concerned officer may order the release of the said goods through FORM GST INS-05.
As per the Tax Invoice, Credit and Debit Note Rules, released for GST on 18th May 2017 a “Payment Voucher” as per Rule 7 has to be issued at the time of making payment to the supplier under reverse charge.
As per CGST Act, all taxes, levies, and charges collected from the buyer should be part of the valuation except for the taxes under GST (SGST UTGST & Cess), if buyer and seller are not related parties.
As per the CGST Act, a receipt voucher can be issued for recording the receipt of advance from the customer under GST, as taxes are applicable on receipt of money under GST for the supply of goods and services.
In Annex – 9 of GSTR – 9b, the taxpayer has to furnish a reconciliation statement between the financial results and the GST Returns for the Amounts paid under protest/ as pre-deposit against demand along with the reasons for all the taxes applicable under GST.
In Annex 6 of GSTR – 9b, the taxpayer has to provide a reconciliation statement between the tax deposited through challans and tax deposit in the books of accounts along with reasons for all the applicable taxes under GST.