Question 13 - What is an ITC Ledger? - FAQ on GST dated 21.9.2016 based on Draft Model GST
FAQ on GST dated 21.9.2016 based on Draft Model GST
Chapter 7
GST Payment of Tax
Contents
Q 13. What is an ITC Ledger?
Ans. Input Tax Credit as self-assessed in monthly returns will be reflected in the ITC Ledger. The credit in this ledger can be used to make payment of TAX ONLY and not other amounts such as interest, penalty, fees etc.
