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of <h1>Section 49 MGST Act: Payment Procedures, Electronic Ledgers, and Input Tax Credit Utilization Explained</h1> Section 49 of the Maharashtra Goods and Services Tax Act, 2017, outlines the procedures for the payment of tax, interest, penalties, and other amounts. Deposits made via various electronic methods are credited to the electronic cash ledger of the payer. Input tax credits are recorded in the electronic credit ledger and can be used to pay output tax under certain conditions. The section specifies the order of utilization for different types of taxes and prohibits certain cross-utilizations. Remaining balances in the ledgers can be refunded. All liabilities are maintained in an electronic liability register, and tax dues are prioritized for payment.
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