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CS Executive · Tax Laws and Practice · Procedural Compliance under GST

Under section 49(1) and the Explanation to section 49 of the CGST Act, 2017, when is a deposit made through internet banking deemed to be made in the electronic cash ledger?

The deposit is deemed made on the date the amount is credited to the Government's account in the authorised bank, not when the taxpayer initiates payment or generates the challan. That credit date is treated as the date of deposit in the electronic cash ledger.

  1. AOn the date the taxpayer initiates the payment instruction
  2. BOn the date the challan is generated on the common portal
  3. COn the date of credit to the account of the Government in the authorised bankCorrect
  4. DOn the due date of filing the return for that period

Explanation

The Explanation to section 49 states that the date of credit to the account of the Government in the authorised bank is deemed to be the date of deposit in the electronic cash ledger. Initiating payment or generating a challan does not by itself fix the deposit date.

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