CBIC clarifies queries on Electronic Credit Ledger

The Central Board of Indirect Taxes and Customs (CBIC) clarified the certain important queries on the Electronic Credit Ledger (ECL) raised by the Export Import (EXIM) Trade/ Customs Brokers.

The registered Indian taxpayer who is obligated to pay Goods and Services Tax has an Electronic Credit Ledger (ECL) kept on the Goods and Services Tax Network (GSTN) portal. The ECL is used to keep track of all input tax credits (ITC) that the taxpayer has claimed.

Here are the queries and clarifications: -

1. Ledger must be downloadable in Excel Format.

Trade has requested a separate option to get the ledger in Excel format so they may easily settle their own payments. This feature is being created and will be released shortly.

2. Users require tracking of Customs Brokers money transferred to ‘ECL’

Customs Brokers-based reports for transactions tracking functionality are currently under development and will soon be made available to users.

3. ECL top up amount does not get credited to pay duty

If the transaction between the banks/RBI and ICEGATE is successful, the ECL Top up amount is credited in the wallet. To seek out the most latest position, you can also inquire about top-up challans on ICEGATE.

4. Challan not Visible

Issue has been resolved now and as soon as challan are made available by ICES, the same are displayed to the users on ICEGATE for payment.

5. If the amount of custom duty is not integrated into ICES, shouldn't the same amount be automatically credited to the "ECL Wallet"?

If the payment is not integrated into ICES, it will still be credited to ICES and the ECL wallet. If users are still having problems, please share specifics.

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates