The Punjab State Power Corporation Limited (PSPCL) on August 28, 2025, issued a notification regarding short or excess payment of GST due to non-reconciliation between information submitted for GST returns and books of accounts.
The following has been stated: -
•As per the GST law, tax must be deposited and reported monthly, with 18% interest applicable on delays.
•Monthly reconciliation between GST returns and books of accounts is mandatory to avoid penalties.
•For Q1 FY 2025-26, reconciliation sheets show short/excess tax payments, indicating lapses in reconciliation.
•Officers are instructed to investigate reasons, take corrective action, and report adjustments in the current month’s GST return.
The detailed notification is given in the document below.
[Notification No.380/GST-148]
