TMI BlogPayment of tax, interest, penalty and other amounts through E-Credit ledger Section 49X X X X Extracts X X X X X X X X Extracts X X X X ..... section 43A, to be maintained in such manner as may be prescribed. [ Section 49(2) of the CGST Act.] The amount available in the electronic credit ledger may be used for making any payment towards output tax under this Act or under the Integrated Goods and Services Tax Act in such manner and subject to such conditions and within such time as may be prescribed. [Section 49(4) of the CGST Act] Non-utilisation of ITC for tax liability under reverse charge mechanism The amount available in the electronic credit ledger may be used for making any payment towards output tax under CGST, SGST, UTGST or IGST. It is pertinent to note that output tax in relation to a taxable person, means the tax chargeable under this A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a) the input tax credit on account of State tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on account of central tax is not available for payment of integrated tax. b) the State tax or Union territory tax shall not be utilised towards payment of central tax. ITC of UGST :- the Union territory tax shall first be utilised towards payment of Union territory tax and the amount remaining , if any, may be utilised towards payment of integrated tax. Condition to utilised the remaining amount of SGST ITC :- Provided that the input tax credit on account of Union territory tax shall be utilised towards payment of integrated tax only where the bal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovisions of section 54 , the amount to the extent of the claim shall be debited in the said ledger. If the refund so filed is rejected, either fully or partly, the amount debited under rule 86(3), to the extent of rejection, shall be re-credited to the electronic credit ledger by the proper officer by an order made in FORM GST PMT-03 . Save as provided in the provisions of this Chapter, no entry shall be made directly in the electronic credit ledger under any circumstance. A registered person shall, upon noticing any discrepancy in his electronic credit ledger, communicate the same to the officer exercising jurisdiction in the matter, through the co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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