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<h1>Electronic ledger utilisation governs payment and utilisation of tax and input credits under the GST framework.</h1> Section 49 requires deposits via prescribed electronic modes to be credited to an electronic cash ledger and self-assessed input tax credits to an electronic credit ledger. Funds in the cash ledger may be used for any payment under the Act; credits in the credit ledger are available for payment of output tax subject to prescribed conditions and utilisation hierarchy. The section prescribes priority rules for discharge of liabilities, limitations on cross-utilisation of different tax credits, maintenance of an electronic liability register, permitted transfers on the common portal deemed as refunds, and power to limit the proportion of output tax dischargeable through the credit ledger.
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