Rule 86. Electronic Credit Ledger.-
(1) The electronic credit ledger shall be maintained
in FORM GST PMT-02 for each registered person eligible for input tax credit
under the Act on the common portal and every claim of input tax credit under
the Act shall be credited to the said ledger.
(2) The electronic credit ledger shall be debited to
the extent of discharge of any liability in accordance with the provisions of
section 49 1[or section 49A or section 49B].
(3) 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 to the extent of the claim shall be
debited in the said ledger.
(4) If the refund so filed is rejected, either fully
or partly, the amount debited under sub rule (3), to the extent of rejection,
shall be re-credited to the electronic credit ledger by the proper officer by
an order made in FORM GST PMT-03.
2[(4A) Where a registered person has claimed refund of
any amount paid as tax wrongly paid or paid in excess for which debit has been
made from the electronic credit ledger, the said amount, if found admissible,
shall be re-credited to the electronic credit ledger by the proper officer by
an order made in FORM GST PMT-03.]
3[(4B) Where a registered person deposits the amount
of erroneous refund sanctioned to him, -
(a) under sub-section (3) of section 54 of the Act, or
(b) under sub-rule (3) of rule 96, in contravention of
sub-rule (10) of rule 96,
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
deposited by the registered person shall be re-credited to the electronic
credit ledger by the proper officer by an order made in FORM GST PMT-03A.]
(5) Save as provided in the provisions of this
Chapter, no entry shall be made directly in the electronic credit ledger under
any circumstance.
(6) A registered person shall, upon noticing any
discrepancy in his electronic credit ledger, communicate the same to the
officer exercising jurisdiction in the matter, through the common portal in
FORM GST PMT-04.
Explanation. - For the purposes of this rule, it is
hereby clarified that a refund shall be deemed to be rejected, if the appeal is
finally rejected or if the claimant gives an undertaking to the proper officer
that he shall not file an appeal.
