Electronic Liability Register under GST law

Hello friends, greetings for the day in the current article we will discuss about electronic liability register. On the common portal each registered taxpayer will have one electronic register called the electronic liability register and two electronic ledgers namely electronic cash ledger and electronic credit ledger. These register and ledger will reflect the amount of tax payable, the amount available to settle the tax liability online, and input credit balance. This is a handy tool provided in the GST system wherein the registered taxpayer can have information about his liabilities and credits at a single location which can be viewed from any place by simply logging into the common portal. Electronic liability register, electronic cash ledger and electronic credit ledger of taxpayer will be updated on generation of GSTR-3 by the taxpayer. A unique identification number shall be generated at the common portal for each debit or credit to the electronic cash or credit ledger. The unique identification number relating to discharge of any liability shall be indicated in the corresponding entry in the electronic liability register. In case of any discrepancy in his electronic liability ledger, electronic cash ledger or electronic credit ledger the registered person has to communicate the same to the officer exercising jurisdiction in the matter, through the common portal in FORM GST PMT-04. 

ELECTRONIC LIABILITY REGISTER

According to 49(7) of CGST Act, all liabilities of taxable person under this act shall be recorded and maintained in an “electronic liability register” in such manner as may be prescribed. As per rule 85 of CGST rules 2017, the electronic liability register specified under 49(7) shall be maintained in FORM GST PMT-01 for each person liable to pay tax, interest, penalty, late fee or any other amount on the common portal and all amounts payable by him shall be debited for the said register. The electronic liability register is maintained in FORM GST PMT-01 for each person liable to pay tax, interest, penalty, late fee or any other amount on common portal.

The electronic liability register will be maintained in two parts at the common portal:-

• Part-I will be for maintaining the return related liabilities. All liabilities accruing due to return and payments made against the same will be recorded in this part of the register and payment made against the same will be recorded in this part of register
• Part-II will be for maintaining the complete description of transaction of all liabilities accruing, other than return related liabilities.

As per rule 85 of CGST Rules the electronic liability register of a person shall indicate the following:-

• the amount payable towards tax, interest, late fee or any other amount payable as per the return furnished by the said person;
• the amount of tax, interest, penalty or any other amount payable as determined by a proper officer in pursuance of any proceedings under the Act or as ascertained by the said person;
• the amount of tax and interest payable as a result of mismatch under section 42 or section 43 or section 50; or
• any amount of interest that may accrue from time to time
• the amount deducted by the Government authorities from the payment made or credited to the supplier of taxable goods or services or both, where total value of such supply under a contract exceeding two lakhs and fifty thousand.
• the amount required to be collected by every e-commerce operator on the net value of taxable supplies made through it by other supplier is to be collected by the operator.
• the amount payable on reverse charge basis, amount payable under composition levy scheme.

Any amount of demand debited in the electronic liability register shall stand reduced to the extent of relief given by the appellate authority or Appellate Tribunal or court and the electronic liability register shall be credited accordingly.

The amount of penalty imposed or liable to be imposed shall stand reduced partly or fully, as the case may be, if the taxable person makes the payment of tax, interest and penalty specified in the show cause notice or demand order and the electronic liability register shall be credited accordingly