How to differentiate E-cash Ledger with Compensation cess?
What is E-cash Ledger? How does Compensation cess work under GST regime? What are the difference between E-cash Ledger and Compensation cess?
Under GST system, the following information explains about E-cash Ledger and Compensation cess.
This ledger will serve as an electronic wallet. Where, the taxpayer needs to make any payment such as tax, interest, penalty etc and he does not have enough credit in his E-Credit ledger, he will have to simply add money to the wallet and the money will be utilized to make the payment. GST cess is a compensation cess levied under section 8 of The Goods and Services Tax (Compensation to State) Act, 2017. GST cess is levied on intra-state supply of goods or services and inter-state supply of goods or services to provide compensation to the States for loss of revenue due to implementation of GST in India.
The details about E-cash Ledger and Compensation cess with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on E-cash Ledger and Compensation cess, so as to enable you to have a clear idea on these shipping terms.
For your immediate reference, we give below web links on E-cash Ledger and Compensation cess separately below. You may kindly read the below links to know more about Compensation cess and E-cash Ledger.
Term E-cash Ledger under GST
Meaning of term compensation cess under GST
The above information easily explains about Compensation cess and E-cash Ledger.
I hope, you have satisfied with the difference between E-cash Ledger and Compensation cess explained above. Do you have different thought on difference between Compensation cess and E-cash Ledger?
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