Description
GST Electronic Cash Ledger. The Electronic Cash Ledger is an account of the taxpayer that is maintained by the GST system that reflects the cash deposits in recognized banks and payments of taxes and other dues made by the taxpayer. This contains a summary of all the deposits and payments that are made by a taxpayer.
How do I receive GST benefits?
Credit can be claimed only if the following conditions are met:
- You are in possession of a tax invoice or debit note issued by a registered supplier;
- You have received the goods or services or both;
- You have furnished the GST return;
- Tax charged in respect of such supply has been actually paid by the supplier;
How do you use GST cash balance?
Viewing Electronic Cash Ledger
- Step 1: Login to the Portal. The taxpayer has to login to the official GST Portal.
- Step 2: Enter the Credentials. …
- Step 3: Click Electronic Cash Ledger. …
- Step 4: Cash Balance. …
- Step 5: Click Electronic Cash Ledger. …
- Step 6: Select the time period. …
- Step 7: Click GO. …
- Step 8: Click Save.
Is GST good or bad?
“Based on the one nation one tax ideology, GST has helped in reducing the cascading effect of tax considerably. Also, multiplicity of compliances under various indirect taxes has been reduced. … “Input Tax Credit (ITC) is an area which has certain limitations that need to be addressed
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