https://www.taxtmi.com/article/detailed?id=8610 The electronic ledgers framework requires taxpayers to declare tax, credits and payments in GSTR 3B so that the Electronic Liability Ledger registers liabilities, the Electronic Credit Ledger registers eligible input tax credit debited on utilisation, and the Electronic Cash Ledger records cash payments via challan; reverse charge liabilities must be paid in cash. The portal workflow prompts offsetting of credits against liability and, if insufficient, directs challan creation and cash payment before final offsetting and reconciliation. en-us Fri, 12 Jul 2019 06:29:07 +0530 Fri, 12 Jul 2019 06:29:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8610 The electronic ledgers framework requires taxpayers to declare tax, credits and payments in GSTR 3B so that the Electronic Liability Ledger registers liabilities, the Electronic Credit Ledger registers eligible input tax credit debited on utilisation, and the Electronic Cash Ledger records cash payments via challan; reverse charge liabilities must be paid in cash. The portal workflow prompts offsetting of credits against liability and, if insufficient, directs challan creation and cash payment before final offsetting and reconciliation. Articles Goods and Services Tax - GST Fri, 12 Jul 2019 06:29:07 +0530 https://www.taxtmi.com/article/detailed?id=8610