Electronic Ledgers & Reports at GST Portal

Rukmani Gupta Rukmani Gupta Dec 21, 2019 2293 0



 

Electronic Ledgers & Reports at GST Portal

  1. What are the electronic ledgers in GST?
  2. What are the different electronic ledgers available in GST?
  3. What is Electronic Cash Ledger in GST?
  4. What is Electronic credit Ledger?
  5. What is Electronic Liability Ledger?
  6. Which type of input credits are shown in electronic credit ledger in GST?
  7. What is GST PMT-01?
  8. What is GST PMT-02?

  1. What are the electronic ledgers in GST?

Electronic Ledgers are the statement available online at GST Portal as a summary data compilation of the tax liability, input tax credit & tax deposited of their various GST returns filed.

  1. What are the different electronic ledgers available in GST?

Following are the electronic ledgers available at GST portal: -

  1. Electronic Liability Ledger
  2. Electronic Credit Ledger
  3. Electronic Cash Ledger

  1. What is Electronic Cash Ledger in GST?

Electronic Cash Ledger is the statement which reflects payment date wise total amount paid, adjusted and available for adjustment against any dues of output tax, interest, penalty, late fee or any other dues under the GST Act. Electronic cash ledger contains only the payment made out of assessee’s own bank/cash/NEFT/RTGS not the input credit.

  1. What is Electronic credit Ledger?

Electronic Credit Ledger is the statement which shows all the entries of the input credit posted by various suppliers, reverse charge etc. from all the taxable purchases and the month wise utilization of that input credit. The credit available in this ledger can be utilized only for the payment of output GST liability not the interest, penalty etc.

  1. What is Electronic Liability Ledger?

Electronic Liability Ledger in GST is a statement which reflects monthly tax & dues like interest, penalty, fee, reverse charge tax with IGST/ CGST/ SGST breakup and also the corresponding credits utilized to clear those dues like through input credit or cash payment etc.

    

  1. Which type of input credits are shown in electronic credit ledger in GST?

Following types of input credits are shown in electronic credit ledger in GST

  1. ITC on the purchases made from registered dealers.
  2. ITC available from the payments made via reverse charge
  3. ITC available from the invoices sent by Input Service Distributor (ISD)
  4. Any opening ITC as per eligibility.

  1. What is GST PMT-01?

GST PMT 01 is the register in which electronic tax liability ledger is maintained at GST portal. It is a monthly statement showing all the dues vs credit and adjustments.

  1. What is GST PMT-02?

GST PMT 01 is the register in which electronic credit ledger is maintained at GST portal. In which all the input credits through various supplier, Input Service Distributor (ISD) or reverse charge got credit and month wise debited against tax dues.






 

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