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of <h1>Guidelines for Managing Input Tax Credit in Electronic Credit Ledger: Sections 41, 49, and Refunds via Section 54.</h1> The procedures for managing input tax credit (ITC) through the Electronic Credit Ledger under the GST framework. According to Sections 41 and 49 of the CGST Act, ITC is credited to a registered person's ledger and can be used for output tax payments, excluding reverse charge mechanisms. The utilization of ITC follows a specific order: IGST credits are used first, followed by CGST, SGST, and UTGST, with restrictions on cross-utilization. The ledger is maintained in FORM GST PMT-02, and any discrepancies must be reported through FORM GST PMT-04. Refunds and debits are managed as per Section 54 and Rule 86.
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