Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Cash ledger

192 views

Save Share

Join Us Follow Us Add as Source

Karthik Keremule

20 Points Posted on 14 July 2020

can we utilize cash ledger amount available under penalty column.

Replies (2)

Quick Summary

The electronic cash ledger in GST, accessible via form PMT01, holds funds that can be used for various GST liabilities. This includes tax, interest, penalties, and fees. Importantly, funds under specific heads, like SGST, can only be used for liabilities under that same head. This ledger offers a flexible way to manage your GST payment obligations.

Vijayprakash P

1313 Points Posted on 14 July 2020

The Electronic Cash ledger in form PMT01 is created in GST common Portal. The amount available in the Electronic Cash Ledger can be utilised for payment of any liability for the respective major and minor heads. For example, liability for the tax under SGST can be utilised from the available amount of cash available under SGST only. The amount available in the Electronic cash ledger can be used for making payments towards tax, interest, GST penalty fees and any other amount payable.