The possible debits’ and credits’ to Electronic tax liability register are as follows;
| Debit | Credit |
| · the amount payable towards tax, interest, late fee or any other amount payable as per the return filed 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 proceeding 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. |
· Electronic credit ledger (Payment of Amount deducted u/s 51 or amount collected u/s 52, amount payable on Reverse Charge basis, amount payable u/s 10, any amount payable towards interest, penalty, fee or any other amount under the Act)
· Electronic cash ledger · Relief given by the Appellate Authority or Appellate Tribunal or Court · Reduction in penalty (if any) |
(ICAI FAQ PUBLICATIONS 06-09-2017 PAYMENT OF TAX, INTEREST ,PENALTY AND OTHER AMOUNTS: FAQ NO. 2)