M/s Dexton Supply Private Limited has the following tax liabilities for the financial year 2023-24: (S.No. 1-6 with amounts). The company has the balance of ₹ 5,05,000 in Electronic Cash Ledger. Suggest the company in di

Balance in Electronic cash ledger can be used in the following manner to discharge tax liability by M/s Dexton Supply Private Limited: Particulars Amount in ₹ Balance available in electronic cash ledger 5,05,000 Less: Tax liability of CGST, SGST/UGST, IGST for supplies made during May, 2023 1,25,000 Interest & Penalty on delayed payment and filing of returns belonging to June, 2023 16,000 Tax liability of CGST, SGST/USGST, IGST for supplies made during June, 2023 1,28,000 Interest & Penalty on delayed payment and filing of returns belonging to July, 2023 14,500 Balance available towards Demand raised as per section 73 or section 74 under CGST Act, 2017 2,21,500 Balance in electronic cash ledger: Nil Note: The balance amount of ₹ 4,26,500 (6,48,000 - 2,21,500) towards demand raised under section 73 or section 74 under CGST Act, 2017 to be discharged before discharging liability of demand raised under old provisions of Indirect Taxes.