Difference between Electronic credit ledger and E ledger under GST terms
What is E ledger? How does Electronic credit ledger work under GST regime? What are the difference between E ledger and Electronic credit ledger?
Under GST system, the following information explains about E ledger and Electronic credit ledger.
As per GST terms, E ledger means 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.
Electronic credit ledger means: 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 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 ledger and Electronic credit 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 ledger and Electronic credit ledger separately below. You may kindly read the below links to know more about Electronic credit ledger and E ledger.
What is E ledger under GST
Electronic credit ledger under GST
The above information easily explains about Electronic credit ledger and E ledger.
I hope, you have satisfied with the difference between E ledger and Electronic credit ledger explained above. Do you have different thought on difference between Electronic credit ledger and E ledger?
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