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CMA Final · Indirect Tax Laws and Practice · Walkthrough of GSTN Portal

On the GST common portal, a registered person who wants to see the credit, debit and balance position of tax, interest, penalty, fee and other amounts in respect of his liabilities should refer to which ledger-related facility?

The electronic liability register is the facility to consult. It records all amounts payable by a registered person, such as tax, interest, penalty and fee, and shows how they are discharged, whereas the cash and credit ledgers only display available balances of cash and input tax credit.

  1. AElectronic Credit Ledger only
  2. BElectronic Liability RegisterCorrect
  3. CElectronic Cash Ledger only
  4. DReturn filing dashboard summary only

Explanation

The electronic liability register records the tax and other dues payable by the person and is debited as liabilities arise, while payments through the cash or credit ledger discharge them. The cash ledger and credit ledger show only the available balances of cash deposited and input tax credit respectively, not the full liability position.

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