Introduction:
The GST Act came in force from 1st July, 2017. There were many interpretation issues with respect to the definitions, glossary and terms use in the law. Since, such definitions were adopted from various legacy laws in India prior to GST; such as Service Tax, State VAT, Central Excise Act, Luxury Tax, Entertainment Tax, etc. it was difficult to make applicable one definition for different sectors. Hence, some modifications from existing definitions were made. Therefore, it was important to established a nexus of the terms used in the GST definitions. The definition discussed here is”Electronic Cash Ledger”.
So what do you mean by”Electronic Cash Ledger”?
Section 2(43) of CGST Act, 2017 –“electronic cash ledger” means the electronic cash ledger referred to in subsection (1) of section 49;;
Conclusion:
The Electronic Cash Ledger is an account of the taxpayers that is maintained by the GST system that reflects the cash deposits in recognized banks and payments of taxes and other dues made by the taxpayer.