Electronic ledger utilisation governs credited payments, prioritised tax-credit application and sequencing of liability discharge. Payments made by prescribed electronic modes are credited to a person's electronic cash ledger; self-assessed input tax credit is credited to the electronic credit ledger. Ledger balances may be used for payments of tax, interest, penalty and other amounts subject to prescribed conditions, with residual balances refundable under the refund provision. Credits must be utilised according to a prescribed order between integrated, central and State/Union territory taxes, liabilities recorded in an electronic liability register, and liabilities discharged in the sequence of prior period returns, current period returns and other amounts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Electronic ledger utilisation governs credited payments, prioritised tax-credit application and sequencing of liability discharge.
Payments made by prescribed electronic modes are credited to a person's electronic cash ledger; self-assessed input tax credit is credited to the electronic credit ledger. Ledger balances may be used for payments of tax, interest, penalty and other amounts subject to prescribed conditions, with residual balances refundable under the refund provision. Credits must be utilised according to a prescribed order between integrated, central and State/Union territory taxes, liabilities recorded in an electronic liability register, and liabilities discharged in the sequence of prior period returns, current period returns and other amounts.
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