Electronic ledger credits permit use for tax, interest and penalties subject to prescribed conditions and utilisation order.

Section 49 requires deposits by prescribed electronic modes to be credited to an individual's electronic cash ledger and self-assessed input tax credit to the electronic credit ledger. Amounts in the cash ledger may be used for any payable under the Act; amounts in the credit ledger are applicable to output tax under this Act or the Integrated Act, subject to prescribed conditions. The section sets a specific utilisation hierarchy for input tax credit across integrated, central, State and Union territory taxes, mandates an electronic liability register, prescribes the order for discharging dues, and allows refund of ledger balances under the Act's refund provision.

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