Electronic Credit Ledger [ Rule 86 ]

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..... redit Ledger:- The electronic credit ledger shall be debited to the extent of discharge of any liability in accordance with the provisions of section 49 or section 49A or section 49B. [ Rule 86(2) ] * Refund From Electronic Ledger: - 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 .....

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..... nt of erroneous refund sanctioned to him, - * under section 54(3) CGST Act, or * under rule 96(3), in contravention of rule 96(10), omitted w.e.f. 08.10.2024 vide N.No. 20/2024-CT ] * along with interest and penalty, wherever applicable, through FORM GST DRC-03, by debiting the electronic cash ledger, on his own or on being pointed out, an amount equivalent to the amount of erroneous refund .....

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