Section 49 - Payment of tax, interest, penalty and other amounts.

Electronic cash and credit ledger rules govern application of deposits and input tax credit for payment obligations.

Section 49 requires electronic payment modes to credit deposits to the taxpayer's electronic cash ledger and self assessed input tax credit to the electronic credit ledger; permits use of cash ledger and credit ledger balances for specified payments under prescribed conditions; requires utilisation of credit ledger for output tax with a prescribed order for apportioning integrated, central and State tax and prohibitions on cross utilisation; mandates an electronic liability register; prescribes discharge priority of liabilities; and deems the date of credit to the Government account as date of deposit.