alleryStart learning →Which dues can be paid by debiting the electronic credit ledger?
AInterest on late payment
BPenalty under the Act
CLate fee on returns
DOutput tax liability
Answer & Solution
Correct answer: D. Output tax liability
Section 49(4) lets the credit ledger be used for payment towards output tax under the CGST or IGST Act, not for interest, penalty or fees.
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Related questions
An Input Service Distributor is best described as what?Which return must be filed before claiming ITC under Section 16(2)(d)?ITC on a supply requires that the tax charged has been actually what?A bank has eligible ITC of Rs 80,000 in a month and picks the 50 per cent option. What creCommon input ITC Rs 90,000; two-thirds relates to taxable supplies, rest exempt. Credit alInputs carry total ITC of Rs 60,000, and 25 per cent of their use is for non-business purpInvoice Rs 1,00,000 plus 18% GST unpaid beyond 180 days. ITC added back, ignoring interestInter-State sale Rs 5,00,000, inputs Rs 3,00,000, IGST 12% on both. Net IGST?