Payment of Tax via Electronic Ledger Electronic Cash Ledger (Assume it as an account statement provided by bank, for easy understanding) Debit Amount (DR) Credit Amount (CR) Credit amount of this ledger may be used Any deposit made towards tax, • • for payment of tax, interest, fees etc. interest, penalty, late fee etc. Remaining credit balance amount after via internet banking, RTGS, • payment of above tax etc. will be fund transfer etc. refunded to taxable person. TDS/TCS claimed • B. Electronic Credit ledger Debit Amount (DR) Credit Amount (CR) Credit amount of this ledger may be Tax credit as self-assessed •Input • used for payment of output tax viz in the return in the form of IGST, IGST, CGST, SGST, UTGST in the CGST, SGST, UTGST prescribed order. Electronic Liability Register Debit Amount (DR) Credit Amount (CR) Amount payable towards tax, interest, Electronic cash ledger • • fees etc. Tax or interest payable due to • mismatch Any other dues • Amount payable towards output tax Electronic credit ledger • •
Payment of Tax via Electronic Ledger Electronic Cash Ledger (Assume it as an account statement provided by bank, for easy understanding) Debit Amount (DR) Credit Amount (CR) • Credit amount of this ledger may be used • Any deposit made towards tax, for payment of tax, interest, fees etc. interest, penalty, late fee etc. • Remaining credit balance amount after via internet banking, RTGS, payment of above tax etc. will be fund transfer etc. refunded to taxable person. • TDS/TCS claimed B. Electronic Credit ledger Debit Amount (DR) Credit Amount (CR) • Credit amount of this ledger may be •Input Tax credit as self-assessed used for payment of output tax viz in the return in the form of IGST, IGST, CGST, SGST, UTGST in the CGST, SGST, UTGST prescribed order. Electronic Liability Register Debit Amount (DR) Credit Amount (CR) • Amount payable towards tax, interest, • Electronic cash ledger fees etc. • Tax or interest payable due to mismatch • Any other dues • Amount payable towards output tax • Electronic credit ledger