Electronic cash and credit ledgers govern payment crediting and priority utilisation for tax liabilities and refunds. Payments by prescribed electronic modes are credited to a person's electronic cash ledger and self-assessed input tax credit is credited to the electronic credit ledger. Cash ledger balances may be used to pay tax, interest, penalty, fee and other amounts; credit ledger balances may be used for output tax under this Act and the Integrated Act. The law prescribes the priority of utilisation among integrated, central, State and Union territory tax credits, prohibits cross-utilisation between central and State/Union territory taxes, allows refunds of residual balances, requires an electronic liability register, and sets a specified order for discharging dues.
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 cash and credit ledgers govern payment crediting and priority utilisation for tax liabilities and refunds.
Payments by prescribed electronic modes are credited to a person's electronic cash ledger and self-assessed input tax credit is credited to the electronic credit ledger. Cash ledger balances may be used to pay tax, interest, penalty, fee and other amounts; credit ledger balances may be used for output tax under this Act and the Integrated Act. The law prescribes the priority of utilisation among integrated, central, State and Union territory tax credits, prohibits cross-utilisation between central and State/Union territory taxes, allows refunds of residual balances, requires an electronic liability register, and sets a specified order for discharging dues.
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