https://www.taxtmi.com/article/detailed?id=6913 Section 7 mandates electronic payment modes for IGST, interest, fees and other amounts into an electronic cash ledger, with deposit deemed on credit to Government account. The Central Government will prescribe rules for maintaining electronic cash and credit ledgers, crediting self-assessed input tax, conditions and timing for using ledger balances to discharge tax, interest, penalty and fees, and the sequence for utilization of IGST, CGST and SGST credits. Refunds of remaining balances follow CGST Act provisions and a deeming clause presumes tax incidence passed to the recipient unless the payer proves otherwise. en-us Fri, 29 Jul 2016 08:50:01 +0530 Fri, 29 Jul 2016 08:50:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6913 Section 7 mandates electronic payment modes for IGST, interest, fees and other amounts into an electronic cash ledger, with deposit deemed on credit to Government account. The Central Government will prescribe rules for maintaining electronic cash and credit ledgers, crediting self-assessed input tax, conditions and timing for using ledger balances to discharge tax, interest, penalty and fees, and the sequence for utilization of IGST, CGST and SGST credits. Refunds of remaining balances follow CGST Act provisions and a deeming clause presumes tax incidence passed to the recipient unless the payer proves otherwise. Articles Goods and Services Tax - GST Fri, 29 Jul 2016 08:50:01 +0530 https://www.taxtmi.com/article/detailed?id=6913