How to differentiate E-FPB with Electronic Tax Liability Ledger?
What is E-FPB? How does Electronic Tax Liability Ledger work under GST regime? What are the difference between E-FPB and Electronic Tax Liability Ledger?
Under GST system, the following information explains about E-FPB and Electronic Tax Liability Ledger.
As per GST terms, E-FPB stands for Electronic Focal Point Branch. These are branches of authorized banks which are authorized to collect payment of GST. Each authorized bank will nominate only one branch as its E-FPB for pan India transactions. The E-FPB will have to open accounts under each major head for all governments. Total 38 accounts (one each for CGST, IGST and one each for SGST for each State / UT Government) will have to be opened and 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.
The details about E-FPB and Electronic Tax Liability Ledger with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on E-FPB and Electronic Tax Liability Ledger, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on E-FPB and Electronic Tax Liability Ledger separately below. You may kindly read the below links to know more about Electronic Tax Liability Ledger and E-FPB.
Meaning of E-FPB under GST
Electronic Tax Liability Ledger Means
The above information easily explains about Electronic Tax Liability Ledger and E-FPB.
I hope, you have satisfied with the difference between E-FPB and Electronic Tax Liability Ledger explained above. Do you have different thought on difference between Electronic Tax Liability Ledger and E-FPB?
Share below your thoughts about E-FPB and Electronic Tax Liability Ledger
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