ITC Ledger Reports
Learn to use and analyze ITC Ledger Reports
Basics of ITC Ledger Reports
The Electronic Credit Ledger is maintained by the GST System. In the Electronic Credit Ledger, all credits accrued on account of inward supplies made by a taxpayer within a tax period are accumulated. The ledger is maintained Major Head-wise, i.e., IGST, CGST, SGST, and CESS.
Uses of ITC Ledger Reports
The amount available in the Electronic Credit Ledger can be utilized for paying of tax liabilities as per the following rules:
(a) IGST input tax credit shall first be utilized towards payment of IGST liability and the amount remaining, if any, may be utilized towards the payment of CGST, SGST/UTGST liabilities, in any order before utilizing the CGST, SGST/UTGST credit.
(b) CGST input tax credit shall first be utilized towards payment of CGST liability and the amount remaining, if any, may be utilized towards the payment of IGST liability. CGST credit shall be utilized only if IGST credit is not available.
(c) SGST/UTGST input tax credit shall first be utilized towards payment of SGST/UTGST liability and the amount remaining, if any, may be utilized towards payment of IGST liability (if no CGST credit is available). SGST/UTGST credit shall be utilized only if IGST credit is not available.
(d) CGST input tax credit cannot be utilized towards payment of SGST/UTGST liabilities
(e) SGST/UTGST input taxed credit cannot be utilized towards payment of CGST liabilities
Advantage with ClearTax
With Cleartax , a user can fetch their Electronic Credit Ledger details upto 18 months at one go
Guide to download the ITC Ledger Report
Step 1: Select All Reports
Login to ClearTax GST and then select the ‘Business’ tab
Click on ‘Reports’ and then select 'All Reports’
Step 2:Select ITC Ledger Report
Select ‘ITC Ledger Report’ & Click on ‘View’
You can also access 'All Reports' from the dashboard and then under ‘ITC and Cash Ledger’, click on ‘ITC Ledger Reports’
Step 3: Click on ‘GSTIN’
Select ‘Business’ and then click on ‘GSTIN’
Step 4: Select appropriate period
Select the ‘appropriate period’ . User can fetch the report for a range of 18 months at one go with ClearTax
Step 5 : Fetch Credit ledger data from GSTN
Click on ‘Get Ledger Data’ to fetch Credit ledger data from GSTN
Step 6: Download the report
Click on ‘Export as Excel’ to download the report
You can use, analyze and share the report in Excel form
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