Amendment status not verified — confirm the current text below against the official source.
(1) Every deposit made towards tax, interest, penalty, fee or any Pt of other amount by a person by internet banking or by using tax, interest, creditor debit cards or National Electronic Fund Transfer or penalty and Real Time Gross Settlements or by such other mode and other Amount subject to such conditions and restrictions as may be prescribed, shall be credited to the electronic cash ledger of such person to be maintained in such manners as may be prescribed. (2) The input tax credit as self-assessed in the return of a registered person shall be credited to his electronic credit ledger, in accordance with section 41, to be maintain in such manner as may be prescribed. (3) The amount available in the electronic cash ledger may be used for making any payment towards tax, interest, penalty, fees or any other amount payable under the rovisions of this Act or the rules made thereunder in such manner and subject to such conditions and within such time as may be prescribed. (4 The amount available in the electronic credit ledger may be used for making any payment towards output tax under this Act or under the Integrated Goods and Services Tax Act in such manner and subject to such conditions and within such time as maybe prescribed. (5) The amount of input tax credit available in the electronic credit ledger of the registered person on account of- (a) Integrated tax shall first be utilised towards payment of integrated tax and the amount remaining, if any, may be utilised towards the payment of central tax and State tax, or asther case may be, Union territory tax, in that order; (b) The central tax shall first be utilised towards payment of central tax and the amount remaining, if any, maybe utilised towards payment of integrated tax; 433 (c) the State tax shall first be utilised towards payment of State tax and the amount remaining, if any, may be utilised towards the payment of integrated tax; (d) The Union territory tax shall first be utilised towards payment of the Union territory tax and the amount remaining, if any, may be utilised towards payment of integrated tax; (e) The central tax shall not be utilised towards payment of State tax or Union territory tax; and (f) The State tax or Union territory tax shall not be utilised towards payment of the central tax. (6) The balance in the electronic cash ledger or electronic credit ledger after payment of tax, interest, penalty, fee or any other amount payable under this Act or the rules made thereunder may be refunded in accordance with the provisions of section 54. (7) All liabilities of a taxable person under this Act shall be recorded and maintained in an electronic liability register in such manner as may be prescribed. (8) Every taxable person shall discharge his tax and other dues under this Act or the rules made thereunder in the following order, namely:- (a) Self-assessed tax, and other dues related to returns of previous tax period; (b) Self-assessed tax, and other dues related to the returns of the current tax period; (c) Any other amount payable under this Act or the rules made thereunder including the demand determined under section 73 or section 74. (9) Every person who has paid the tax on goods or services or both underthis Act shall, unless the contrary is proved by him, be deemed to have passed on the full incidence of such tax to the recipient of such goods or services or both. 434 Explanation For the purposes of this section. (a) the date of credit to the account of the Government in the authorised bank shall be deemed to be the date of deposit in the electronic cash ledger; (b) the expression,- (i) "tax dues" means the tax payable under this Act and does not include interest, fee and penalty; and (ii) "other dues" means interest, penalty, fee or any other amount payable under this Actor the rules made thereunder.