Electronic Tax Liability Ledger Means

Term Electronic Tax Liability Ledger under GST

 

Electronic Tax Liability ledger:

The details about Electronic Tax Liability Ledger are explained here. 

 

Under GST, the emphasis is on simplifying administrative procedures and bringing transparency in the system. India is moving towards digitization and the same idea has been captured by lawmakers while drafting the GST bill.

Each registered taxpayer will get a profile created on the government’s GST website. The taxpayer using the login credentials will be able to access all features along with a dashboard. All the taxpayers will also get three electronic ledgers namely E-cash Ledger, E-credit Ledger & E-liability Ledger. These ledgers will reflect the amount of tax payable, input credit balance, and on adding money to the cash ledger the taxpayer will also be able to settle the tax liability online.

E-Liability Ledger:

This ledger will show the total tax liability of a taxpayer after netting off for the particular month. This ledger will be auto populated.

This Ledger primarily shows the difference of Output tax minus Input tax.

The information provided here is about Electronic Tax Liability Ledger.  If you would you like to add more information about Electronic Tax Liability Ledger, share below your thoughts.

 

 


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