The correct answer is: C. CGST, IGST and SGST liability.
The balance in the electronic credit ledger under CGST can be used against the following liabilities:
- CGST liability
- IGST liability
- SGST liability
The electronic credit ledger is a system that allows businesses to track their input tax credits. Input tax credits are amounts that businesses can claim as a credit against their output tax liability. The balance in the electronic credit ledger can be used to offset future output tax liability.
The electronic credit ledger is a valuable tool for businesses that can help them to reduce their tax liability. Businesses should make sure that they are aware of the rules and regulations governing the use of the electronic credit ledger in order to maximize their benefits.
Here is a brief explanation of each option:
- Option A: CGST Liability only. This option is incorrect because the balance in the electronic credit ledger can also be used against IGST and SGST liability.
- Option B: CGST and IGST liability. This option is incorrect because the balance in the electronic credit ledger can also be used against SGST liability.
- Option C: CGST, IGST and SGST liability. This option is correct because the balance in the electronic credit ledger can be used against all three types of liability.
- Option D: None of them. This option is incorrect because the balance in the electronic credit ledger can be used against all three types of liability.