ELECTRONIC CASH LEDGER
· Every Deposit made towards tax, interest, penalty, fee or any other amount by a person by internet banking or by using credit or debit cards or NEFT or RTGS or by such other mode shall be credited to the electronic cash ledger.
| Form No | Name of the Form |
| Electronic Liability Register of registered person (Part–I: Return related liabilities Electronic Liability Register of taxable person (Part–II: Other than return related liabilities) | |
| Electronic Credit Ledger | |
| Order for re-credit of the amount to cash or credit ledger on rejection of refund claim | |
| Application for intimation of discrepancy in Electronic Credit Ledger/Cash Ledger/Liability Register | |
| Electronic Cash Ledger | |
| Challan For Deposit of Goods and Services Tax | |
| Application for intimating discrepancy in making payment |
· After finalisation of GSTR-3 shall generate a challan in FORM GST PMT-06 on the Common Portal
· The challan in FORM GST PMT-06 generated at the Common Portal shall be valid for a period of fifteen days
· On successful credit of the amount to the concerned government account maintained in the authorised bank, a Challan Identification Number (CIN) will be generated by the collecting Bank and the same shall be indicated in the challan.
· If debited but no Challan Identification Number (CIN) is generated or generated but not communicated to the Common Portal, the said person may represent electronically in FORM GST PMT-07 through the Common Portal to the Bank or electronic gateway through which the deposit was initiated.
ELECTRONIC CREDIT LEDGER- self-assessed Input Tax Credit
CREDIT UTILISATION
TAX LIABILITY LEDGER
Major heads CGST, IGST, SGST & UGST Minor Heads Tax, Interest, penality & any other amount.
Sec-50 Interest
Delay in payment of tax-18%
Undue or excess claim of input tax credit-24%
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Kondapaneni Mallikarjuna
The GST registration and GST payments are stored with electronic ledger. The taxable liabilities and related matters are shared for the readers here. The applications can intimation with information and amount to be credit with successful payments. The credit ledger and cash ledger can be registered with online. Common portal is followed for stored all related matters. Electronic gateway is used for all penalties of GST to government.
ReplyDeleteInternet Banking, Credit Card, and any other type of tax, interest, penalty, payment or any other payment will be credited to the person's electronic cash payment. A person's electronic money policy can be used for paying the tax amount; the amount of Input Tax Credit filed by the refund will be credited to the Electronic Credit ledger. The common ledger storing level in the electronic credit ledger can only be used for paying taxes. The amount standing in electronic credit ledger may be used for payment of tax only.
If the person while delay for the payment of tax means penalty will be levied for them. Advance payments are actually required for the protection from penalty. The receipt of advance payments can be attracted by the GST authorized person.
GST receipt containing the following details.
Name and address for the tax payers and good related aspects with GST identification number
Date will be mention for the issued
Brief description about the goods and services.
Advance amount to be taken
The payment of tax amount like central tax, State tax, integrated tax etc
Taxable goods quantity and chargeable rate
Place of supply of goods
Signature about the authorized person