Goods and Services Tax

Electronic Cash/Credit Ledgers and Liability Register in GST

GST – GST Law and Procedure – 017 – Chapter Seventeen Electronic Cash/Credit Ledgers and Liability Register in GST Introduction: On the common portal each registered taxpayer will have one electronic register called the Electronic liability register and two electronic ledgers namely Electronic Cash Ledger and Electronic Credit Ledger. These register and ledgers will reflect the amount of tax payable, the amount available to settle the tax liability online, and input credit balance. This is a handy tool provided in the GST system wherein the registered taxpayer can have information about his liabilities and credits at a single location which can be viewed from any place by simply logging into the common portal. Electronic liability register, electronic cash ledger and electronic credit ledger of taxpayer will be updated on generation of GSTR-3 by the taxpayer. A unique identification number shall be generated at the common portal for each debit or credit to the electronic cash or credi

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for composition and cancellation of registration will also be covered in this part. Such liabilities shall be populated in the liability register of the tax period in which the date of application or order falls, as the case may be. Part II will be for maintaining the complete description of the transactions of all liabilities accruing, other than return related liabilities. Such other liabilities may include the following: Liabilities due to reduction or enhancement in the amount payable due to decision of appeal, rectification, revision, review etc.; Refund of pre-deposit that can be claimed for a particular demand if appeal is allowed; Payment made against the show cause notice or any other payment made voluntarily; Reduction in amount of penalty (which would be automatically shown) based on payment made after show cause notice or within the time specified in the Act or the rules. The electronic liability register of the person shall indicate the following- the amount payable toward

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; amount payable towards interest, penalty, fee; Any other amount under the GST Act. Any amount of demand debited in the electronic liability register shall stand reduced to the extent of relief given by the appellate authority or Appellate Tribunal or court and the electronic liability register shall be credited accordingly. The amount of penalty imposed or liable to be imposed shall stand reduced partly or fully, as the case may be, if the taxable person makes the payment of tax, interest and penalty specified in the show cause notice or demand order and the electronic liability register shall be credited accordingly. Electronic cash ledger: Every deposit made by a person by internet banking or by using credit or debit cards or National Electronic Fund Transfer (NEFT) or Real Time Gross Settlement (RTGS) or by over the counter deposit will be credited to the electronic cash ledger. The amount available in the electronic cash ledger may be used for making any payment towards tax, inte

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ugh authorised banks for deposits up to ₹ 10,000/- per challan per tax period, by cash, cheque or demand draft. When the payment is made by way of NEFT or RTGS mode from any bank, the mandate form shall be generated along with the challan on the common portal and the same shall be submitted to the bank from where the payment is to be made. The mandate form shall be valid for a period of fifteen days from the date of generation of challan. On successful credit of the amount to the concerned government account maintained in the authorised bank, a Challan Identification Number (CIN) shall be generated by the collecting bank and the same shall be indicated in the challan. On receipt of the CIN from the collecting bank, the said amount shall be credited to the electronic cash ledger of the person on whose behalf the deposit has been made and the common portal shall make available a receipt to this effect. In case the bank account is debited but CIN has not been generated or generated

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