GST Electronic Credit Ledger

GST utilises three ledgers, namely electronic cash ledger, electronic liability register and electronic credit ledger for levying, calculating and tracking GST payments, liability and credits. All the three ledgers for maintained for each of the taxpayers in the GST Common Portal and is accessible to the taxpayer. In this article, we look at the electronic credit ledger in detail.

Credit for Input Tax Credit

All persons registered under GST, not being a persons registered under composition scheme are entitled to take input tax credit on any goods or services used as input by the taxpayer for the furtherance of business. The credit for input tax credit is credited to the electronic credit ledger of the taxpayer.

Electronic Credit Ledger Format

Electronic credit ledger is maintained in the GST portal in the above format. All the approved claims for input tax credit are credited to the electronic credit ledger under the appropriate head of CGST, SGST or IGST, UTGST and GST Cess.  Further, after any debits for liability, the available balance credit for CGST, SGST, UTGST, IGST and GST Cess is also provided in the electronic credit ledger.

Also, for reference, unique identification number is generated at the Common Portal for each credit in the electronic liability register for reasons other than those cov

Incorrect Information in GST Electronic Credit Ledger

In case any incorrect information is noticed in the electronic credit ledger, the taxpayer can raise a request in the GST Common Portal using FORM GST PMT-04. Details to be provided in GST PMT-04 include,

• GSTIN
• Legal Name
• Ledger where discrepancy is noted
• Type of tax in which discrepancy is noticed
• Type of discrepancy
• Amount of discrepancy
• Reasons, if any for the discrepancy

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