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of <h1>Understanding GST Credit Ledger: Key Rules for Refunds and Re-credits Under GST Rules 2017</h1> The electronic credit ledger, maintained in FORM GST PMT-02, records input tax credit for registered persons under the Central Goods and Services Tax Rules, 2017. It is debited for tax liabilities and refund claims. If a refund claim is rejected, the debited amount is re-credited by the proper officer using FORM GST PMT-03. Erroneous refunds, once repaid with interest and penalties, are also re-credited. No direct entries are allowed in the ledger except as specified. Any discrepancies must be reported to the jurisdictional officer via FORM GST PMT-04. A refund is considered rejected if the appeal is denied or withdrawn.
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