Electronic Credit in GST Portal

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65 Points Posted on 15 April 2023
Hi,

In GST portal we have electronic Credit of rs. 120000 pls advise how to adjust while making the payment.

pls note we make the make in chq only not in online pls help

Thanks in advance
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On 15 April 2023 at 17:05 Report
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Quick Summary
This discussion addresses how to utilise an electronic credit balance of ₹120,000 within the GST portal. According to Section 49 of the GST Act, this credit balance is automatically adjusted against your output tax liability, meaning it's used to offset your GST payable on sales. This process happens automatically, simplifying the payment process for your GST obligations.

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Pivate
1492 Points Posted on 15 April 2023
Electronic ledger balanc (ITC) adjusted with Liability
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On 15 April 2023 at 21:30
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GST Practitioner
55067 Points Posted on 15 April 2023
As per Section 49 the balance in Credit Ledger can be adjusted only against output liability.
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On 15 April 2023 at 22:40
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Profession Business
28246 Points Posted on 17 April 2023
It will get automatically adjusted with sales . I.e., output gst.
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On 17 April 2023 at 21:42

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