Hon’ble Apex Court allows for use of Electronic Credit Ledger for making Pre Deposit payments

It has been a long-standing revenue contention that the electronic credit ledger cannot be used to make pre-deposit payments for mandatory requirement of filing appeal and that the payment should be made through Electronic Cash ledger. Even for companies which had enough Electronic Credit ledger balance, this meant making additional cash outflows. The snapshot is on the order passed by the Supreme court dismissing the SLP filed by the Revenue against the order passed the Gujarat High Court in the matter of Yasho Industries setting out that the order does not call for any interference