ITC Ledger of Tax Payer and Input Service Distributor

Posted on 11 June 2022 Category : GST terms difference

How to differentiate Input Service Distributor with ITC Ledger of Tax Payer?

What is Input Service Distributor? How does ITC Ledger of Tax Payer work under GST regime? What are the difference between Input Service Distributor and ITC Ledger of Tax Payer?

“Input Service Distributor” means an office of the supplier of goods or services or both which receives tax invoices issued under section 31 towards the receipt of input services and issues a prescribed document for the purposes of distributing the credit of central tax, State tax, integrated tax or Union territory tax paid on the said services to a supplier of taxable goods or services or both having the same Permanent Account Number as that of the said office;

Input Tax Credit as self-assessed in monthly returns will be reflected in this ledger. The credit of this ledger can be used for payment of TAX ONLY and not for payment of interest, fines, fees etc.

The details about Input Service Distributor and ITC Ledger of Tax Payer with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Input Service Distributor and ITC Ledger of Tax Payer, so as to enable you to have a clear idea on these shipping terms.

For your immediate reference, we give below web links on Input Service Distributor and ITC Ledger of Tax Payer separately below. You may kindly read the below links to know more about ITC Ledger of Tax Payer and Input Service Distributor.

Meaning of term Input Service Distributor under GST

Meaning of ITC Ledger of Tax Payer under GST

The above information easily explains about ITC Ledger of Tax Payer and Input Service Distributor.

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