How to differentiate E-cash Ledger with Electronic credit ledger?
What is E-cash Ledger? How does Electronic credit ledger work under GST regime? What are the difference between E-cash Ledger and Electronic credit ledger?
Under GST system, the following information explains about E-cash Ledger and Electronic credit ledger.
E Cash ledger serves 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. This ledger will basically reflect all the deposit made in cash using various modes.
The input tax credit that is self-assessed in the monthly returns will be reflected here under three categories i.e IGST, CGST & SGST. The taxpayer will be able to utilize the balance shown in this account only for payment of tax as per the credit utilization rules and no other amount such as interest, penalty etc.
The details about E-cash Ledger and Electronic credit ledger 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 Electronic credit ledger, 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 Electronic credit ledger separately below. You may kindly read the below links to know more about Electronic credit ledger and E-cash Ledger.
Term E-cash Ledger under GST
Electronic credit ledger under GST
The above information easily explains about Electronic credit ledger and E-cash Ledger.
I hope, you have satisfied with the difference between E-cash Ledger and Electronic credit ledger explained above. Do you have different thought on difference between Electronic credit ledger and E-cash Ledger?
Share below your thoughts about E-cash Ledger and Electronic credit ledger
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