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Electronic Credit Ledger

Electronic Credit Ledger

  • Input tax credit balance uploaded from GST TRAN – 1 shall be credited to the Electronic Credit Ledger on common portal;
  • ITC would be of stock of Inputs, Semi-finished goods and Finished goods on the relevant date, from which Taxpayer becomes liable;
  • ITC on inward supplies from Registered Tax Payers;
  • ITC distributed from Input Service Distributor (ISD);
  • Permissible ITC on stock held upon conversion from composition scheme;
  • ITC eligible on payment made on reverse charge basis.
GST-Goods and Service Tax | Tina Saha |