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

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