Guidelines for manual accounting of the collection of outstanding GST.pdf
F. No. PLI-29 I r I zoz3-PLI-DoP
Govt. of India
Ministry of Communications
Department of Posts
/
Directorate of Postal Life Insurance
Chanakyapuri PO Complex,
New Delhi -uo ozr
Dated o3.og,2o21,
'I',o
All Head of the circles.
Subject: - Guidelines for manual accounting of the collection of outstanding GST on default fee for the period July 2or7 to Decembe r zo2), - reg.
This is regarding guidelines/directions sought by various circles for accounting of the collection of outstanding GST on default fee in receipt side in IT z.o rolled out offices. As such guideline is enclosed l-rerewith for manual accounting of outstanding GST on default fee for the period July zorT to Decemb er 2cl23.
It is requested to kindly issue necessary instructions to the concerned DDOs under your jurisdiction for accounting the outstanding GST on default fee following tl-re guidelines till the automatic accounting provision is deployed in system.
Tl'ris is issued with the approval of the competent authority.
Encl: As above.
(Sahabuddin Liikir)
Sr. Accounts Officer (PLI)
Guidelines for the collection of the outstanding GST on default fee in receipt side in IT 2.0 rolled out offices
The outstanding GST on default fee is automatically accounted to common account codes of CGST and SGST applicable on PLI/RPLI premium. The outstanding GST amount does not reflect separately in PLI/RPLI collection report generated in IT 2.0.
Since, the GST on default fee for the period July 2017 to December 2023 has already been paid to GST authority by all the HPOs, the outstanding amount so collected should not be paid to GST department to avoid double payment.
In this regard, it is to intimate that various kinds of reports are available in McCamish where outstanding GST amounts are separately shown as mentioned below:-
1. Detailed Day End Collection Report.
3. Detailed Customer portal Day end collection.
6. Consolidated premium collection report.
The outstanding amount of GST on default fee collected from the customers is to be transferred to the respective Account codes of PLI/RPLI fund based on the amount extracted from the McCamish report as mentioned above. Since the amount is collected in the common GL of CGST/SGST, the amount reflected in various reports of McCamish is to be debited from the common GL of CGST/SGST and is to be credited manually in the Account Codes as mentioned below:-
| Description of Scheme | Account code (I.T. 2.0) | Head of Account |
|---|---|---|
| Other charges/receipts of PLI | 8016006200 | 801603101040000 |
| Other charges/receipts of RPLI | 8016006600 | 801603102040000 |