What is Electronic Credit Ledger under GST

Rule-86 of CGST Rules 2017

Elec­tron­ic Cred­it Ledger.- 

(1) The elec­tron­ic cred­it ledger shall be main­tained in FORM GST PMT-02 for each reg­is­tered per­son eli­gi­ble for input tax cred­it under the Act on the com­mon por­tal and every claim of input tax cred­it under the Act shall be cred­it­ed to the said

• The elec­tron­ic cred­it ledger shall be deb­it­ed to the extent of dis­charge of any lia­bil­i­ty in accor­dance with the pro­vi­sions of sec­tion 49.
• Where a reg­is­tered per­son has claimed refund of any unuti­lized amount from the elec­tron­ic cred­it ledger in accor­dance with the pro­vi­sions of sec­tion 54, the amount to the extent of the claim shall be deb­it­ed in the said
• If the refund so filed is reject­ed, either ful­ly or part­ly, the amount deb­it­ed under sub- rule (3), to the extent of rejec­tion, shall be re-cred­it­ed to the elec­tron­ic cred­it ledger by the prop­er offi­cer by an order made in FORM GST PMT-03.
• Save as pro­vid­ed in the pro­vi­sions of this Chap­ter, no entry shall be made direct­ly in the elec­tron­ic cred­it ledger under any
• A reg­is­tered per­son shall, upon notic­ing any dis­crep­an­cy in his elec­tron­ic cred­it ledger, com­mu­ni­cate the same to the offi­cer exer­cis­ing juris­dic­tion in the mat­ter, through the com­mon por­tal in FORM GST PMT-04.

Expla­na­tion.– For the pur­pos­es of this rule, it is here­by clar­i­fied that a refund shall be deemed to be reject­ed, if the appeal is final­ly reject­ed or if the claimant gives an under­tak­ing to the prop­er offi­cer that he shall not file an appeal.