Amount of tax deposited into cash ledger but not set off…it shall be treated as payment of tax or just treated as deposit ?
Answer: It would not be treated as payment of tax till cash ledger is debited for discharge of tax liability. Pl see section 49 of CGST Act.
Section 49(3) of CGST Act 2017 :
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 provisions of this Act or the rules made thereunder in such manner and subject to such conditions and within such time as may be prescribed.
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