Electronic Cash Ledger – Government Website Guide (2024)

FAQs

How do I claim my electronic cash ledger refund? ›

Electronic Cash Ledger is an account of the taxpayer maintained by GST system reflecting the cash deposits in recognized Banks and payments of taxes and other dues made by the taxpayer.

(1) The electronic credit ledger shall be maintained in FORM GST PMT-02 for each registered person eligible for input tax credit under the Acton the common portal and every claim of input tax credit under the Act shall be credited to the said ledger.

All cash receipts are recorded on the left-hand side as a debit, and all cash payments are recorded by date on the right-hand side as a credit. The difference between the left and right sides shows the balance of cash on hand, which should be a net debit balance if cash flow is positive.

Withdrawing from your ledger balance is no different from a regular bank withdrawal. It involves accessing your account and using a chosen method to take funds out, such as ATM or electronic transfer. Just ensure the amount doesn't exceed your available balance to avoid issues.

The taxpayers can claim the refund of accumulated ITC in the following situations: When an inverted tax structure prevails in the business. With respect to the export of goods or services made without a tax payment by reporting the Letter of Undertaking (LUT) or bond.

Log in to the GST website using your credentials. Click on the “Services” button, then on “Ledgers”, and then on “Electronic Credit Ledger”. On the Electronic Credit Ledger page, you will be able to check the input tax credit balance as of today's date as well as Blocked Credit Balance and Provisional Credit Balance.

What is the difference between electronic credit ledger and electronic cash ledger? ›

e-Ledger is an electronic form of passbook for GST, containing details on cash deposited, input tax credit balance, and manner of setoff. Electronic Cash Ledger is like an e-wallet for cash payments. Electronic Credit Ledger reflects claimed tax credit. Electronic Liability Ledger details GST liability and payments.

Step 1 – Go to GST Portal. Step 2 – Login to the GST portal with your valid credentials. Step 3 – Click on Services > Ledgers and click on Electronic Cash Ledger tab. Step 4 – Once the Electronic Cash Ledger page is displayed, Cash Balance as on date will be displayed.

Conditions for Electronic Credit Ledger

The registered taxpayers can claim a refund of any unutilized amount from the electronic cash ledger. However, the portal debits the refund claimed in the electronic credit ledger. The concerned authority may reject the refund claimed either fully or partly.

For the user's convenience, the ledger is displayed major head-wise such as IGST, CGST, SGST/UTGST, and CESS. Every minor head is classified into five minor heads, which are Tax, Interest, Penalty, Fee, and Others. In this article, we look at the procedure for viewing the electronic cash ledger on the GST Portal.

The ledger has credits on the right-side column and debits on the left side. The first step in reading the ledger is to look at the different categories or accounts it contains such as assets, liabilities, and equity. Read the ledger from top to bottom to see the transactions entered for each month.

The taxpayer has to login to the official GST Portal. The taxpayer has to enter the username and password. From the 'Services' tab, click 'Ledgers' and then select 'Electronic Credit Ledger' command. The page is displayed along with the credit balance as per the present date.

e-Ledger is an electronic form of passbook for GST, containing details on cash deposited, input tax credit balance, and manner of setoff. Electronic Cash Ledger is like an e-wallet for cash payments. Electronic Credit Ledger reflects claimed tax credit. Electronic Liability Ledger details GST liability and payments.