{"id":4080,"date":"2020-03-25T07:45:18","date_gmt":"2020-03-25T07:45:18","guid":{"rendered":"https:\/\/commerceiets.com\/?p=4080"},"modified":"2020-03-25T07:45:18","modified_gmt":"2020-03-25T07:45:18","slug":"online-payment-of-gst","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/online-payment-of-gst\/","title":{"rendered":"ONLINE PAYMENT OF GST"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/online-payment-of-gst\/#ONLINE_PAYMENT_OF_GST\" title=\"ONLINE\nPAYMENT OF GST\">ONLINE\nPAYMENT OF GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/online-payment-of-gst\/#ELECTRONIC_ONLINE_PAYMENT_OF_GST_MECHANISM\" title=\"ELECTRONIC\/ ONLINE PAYMENT OF GST MECHANISM\">ELECTRONIC\/ ONLINE PAYMENT OF GST MECHANISM<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/online-payment-of-gst\/#MODE_OF_PAYMENT_UNDER_GST\" title=\"MODE OF PAYMENT UNDER GST\">MODE OF PAYMENT UNDER GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/commerceiets.com\/online-payment-of-gst\/#CONCLUSION\" title=\"CONCLUSION\">CONCLUSION<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"ONLINE_PAYMENT_OF_GST\"><\/span><strong>ONLINE\nPAYMENT OF GST<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Online payment of <a href=\"https:\/\/commerceiets.com\/gst\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"GST (opens in a new tab)\">GST<\/a> is one of the major requisites for a business to stay compliant. As per the guidelines of GST Act, every registered regular taxpayer has to furnish the GST returns on a monthly basis, and pay the requisite tax by the GST payment due date \u2013 20th of every month. <\/p>\n\n\n\n<p>Every registered person is required to compute his tax <a href=\"https:\/\/commerceiets.com\/liability-of-tax-payer\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"liability (opens in a new tab)\">liability<\/a>&nbsp;on a monthly basis by setting off the Input Tax Credit (ITC) against the Outward Tax Liability. If there is any balance tax liability the same is required to be paid to the government.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2020\/03\/image-71-1.png\" alt=\"\" class=\"wp-image-4082\"\/><\/figure>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"ELECTRONIC_ONLINE_PAYMENT_OF_GST_MECHANISM\"><\/span><strong>ELECTRONIC\/ ONLINE PAYMENT OF GST MECHANISM<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Section 49 of the <a href=\"https:\/\/commerceiets.com\/cgst\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Central Goods and Services Tax Act (opens in a new tab)\">Central Goods and Services Tax Act<\/a>, along with rules published by the Central Board of Excise and Customs (CBEC), govern the new payment procedures. This includes the following:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2020\/03\/image-72-1.png\" alt=\"\" class=\"wp-image-4083\"\/><\/figure>\n\n\n\n<p>The payment mechanism under GST is as follows:<\/p>\n\n\n\n<p class=\"has-text-align-left has-green-background-color has-background has-regular-font-size\"><strong>MAINTENANCE\nOF ELECTRONIC LEDGERS<\/strong><\/p>\n\n\n\n<p>In the GST portal, a taxable person can track his tax liabilities across three ledgers which are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2020\/03\/image-73-1.png\" alt=\"\" class=\"wp-image-4084\"\/><\/figure>\n\n\n\n<p><strong><em>ELECTRONIC TAX LIABILITY LEDGER&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p>It is also known as Electronic liability ledger. It accounts for a taxpayer\u2019s gross tax liability and available in form GST PMT-01 on the GST portal.<\/p>\n\n\n\n<p>This ledger records all liabilities of a taxable person\nincluding:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The tax, interest, late fees, or any other amount payable per the return furnished by the taxpayer or per any proceedings.<\/li><li>The tax and interest payable arising out of any mismatch of ITC or output tax liability.<\/li><li>Any interest that may accrue from time to time.<\/li><li>The reversal of ITC or interest.<\/li><\/ul>\n\n\n\n<p>Taxpayers should settle their liabilities in the\nfollowing order:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Self-assessed tax and other dues, such as interest, penalty, fees, or any other amount relating to&nbsp;previous tax period returns.<\/li><li>Self-assessed tax and other dues relating to the&nbsp;current tax period return.<\/li><li>Any other amount payable under the act\/rules (liability arising out of demand notice, proceedings, etc.)<\/li><\/ol>\n\n\n\n<p>The Electronic Tax Liability Ledger details is as follows:&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2020\/03\/image-74-1.png\" alt=\"\" class=\"wp-image-4085\"\/><\/figure>\n\n\n\n<p><strong><em>ELECTRONIC CASH LEDGER&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p>All amounts paid by the taxpayer are reflected\nin this ledger to furnish details in Form GST PMT-05.<\/p>\n\n\n\n<p>Any amount paid by the taxpayer will be reflected in the\nelectronic cash ledger. The amount available in this ledger may be used for\nmaking any payment towards tax, interest, penalty, fees, or any other amount\ndue under the act\/rules in the time and manner prescribed. To initiate a\npayment, taxpayers generate a challan online using&nbsp;<strong>form GST PMT-06<\/strong>,\nwhich will be valid for a period of 15 days. Payment can then be remitted\nthrough any of the following modes:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Internet banking (authorized banks only).<\/li><li>Credit or debit card (authorized banks      only).<\/li><li>National Electronic Fund Transfer (NEFT) or real-time gross settlement (RTGS) (any bank, authorized or unauthorized).<\/li><li>Over-the-counter (OTC) payment (authorized banks only)&nbsp;for deposits up to ten thousand rupees&nbsp;per challan and per tax period.<\/li><\/ul>\n\n\n\n<p>The taxpayer is responsible for any commission due on the\npayment.<\/p>\n\n\n\n<p>The payment date shall be recorded as the date the\npayment is credited to the appropriate government account. The date, the\npayment is debited from the taxpayer&#8217;s account is not relevant.<\/p>\n\n\n\n<p><strong><em>ELECTRONIC CREDIT LEDGER&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><strong>Electronic\ncredit ledger<\/strong>&nbsp;is also known as electronic input tax credit\nledger. It records the tax payments already made during the supply chain i.e.\nevery claim of ITC is recorded in this ledger to be furnished details in form\nGST PMT-02.<\/p>\n\n\n\n<p>Every claim of ITC self-assessed by the taxpayer shall be\ncredited to this ledger. The amount available in this ledger may be used for\npayment towards output tax only. Under no circumstance can an entry be made\ndirectly in the electronic credit ledger.<\/p>\n\n\n\n<p>This ledger may include the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>ITC on inward supplies from registered taxpayers.<\/li><li>ITC available based on distribution from input services distributor (ISD).<\/li><li>ITC on input of stock held\/semi-finished goods or finished goods held in stock on the day immediately preceding the date on which the taxpayer became liable to pay tax, provided he applies for registration within 30 days of becoming liable.<\/li><li>Permissible ITC on inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the day of conversion from composition scheme to regular tax scheme.<\/li><li>ITC eligible on a payment made on a reverse charge basis.<\/li><\/ul>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>MANNER OF UTILIZATION AND CROSS-UTILISATION OF ITC<\/strong><\/p>\n\n\n\n<p>The input tax credit available in the electronic credit\nledger shall be utilized in the following manner:<\/p>\n\n\n\n<p><strong>IGST:<\/strong>&nbsp;After&nbsp;the IGST input tax credit is used for payment of <a href=\"https:\/\/commerceiets.com\/what-is-igst\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"IGST  (opens in a new tab)\">IGST <\/a>then the remaining ITC can be used to pay tax liability under CGST and <a href=\"https:\/\/commerceiets.com\/sgst\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"SGST (opens in a new tab)\">SGST<\/a>.<\/p>\n\n\n\n<p><strong>CGST:<\/strong>&nbsp;The CGST input tax credit cannot be\nused to pay the SGST liability but can be used to pay the liability under CGST.\nFurther, the balance of CGST credit available can be used to pay the IGST\nliability.<\/p>\n\n\n\n<p><strong>SGST:<\/strong>&nbsp;The SGST input tax credit cannot be\nused to pay the CGST liability but can be used to pay the liability under SGST.\nFurther, the balance of SGST credit available can be used to pay the IGST\nliability.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  <strong>INPUT TAX ON<\/strong>\n  <\/td><td>\n  <strong>UTILISATION <\/strong>\n  <\/td><\/tr><tr><td>\n  IGST\n  <\/td><td>\n  IGST, CGST, SGST\/UTGST\n  <\/td><\/tr><tr><td>\n  CGST\n  <\/td><td>\n  CGST, IGST\n  <\/td><\/tr><tr><td>\n  SGST\/UTGST\n  <\/td><td>\n  SGST\/UTGST, IGST\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>From the above table, it is evident that central tax\nshall not be utilized towards payment of state tax or union territory tax; and\nstate tax or union territory tax shall not be utilized towards payment of\ncentral tax.<\/p>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>INTEREST ON DELAYED PAYMENTS<\/strong><\/p>\n\n\n\n<p>As per Section 50 of the CGST Act, interest will start\naccruing on a delayed payment the day after the payment was due. This applies\nto both missed payments and payments not made in full.<\/p>\n\n\n\n<p>The payment of interest is automatic and should be made voluntarily, even without a demand. The interest rate, not to exceed 18 percent, will be determined by the Government on the recommendation of the <a href=\"https:\/\/commerceiets.com\/gst-council\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"GST Council (opens in a new tab)\">GST Council<\/a>.<\/p>\n\n\n\n<p>In the case of undue or excess claim of ITC, or undue or\nexcess reduction in output tax liability, interest shall be paid at a higher\nrate, not to exceed 24 percent, to be notified by the Government.<\/p>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>GST PAYMENT FORMS<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  <strong>Sr. no.<\/strong>\n  <\/td><td>\n  <strong>Form no.<\/strong>\n  <\/td><td>\n  <strong>Short description<\/strong>\n  <\/td><td>\n  <strong>Purpose<\/strong>\n  <\/td><\/tr><tr><td>\n  1\n  <\/td><td>\n  GST PMT-01\n  <\/td><td>\n  Electronic tax liability register\n  <\/td><td>\n  Any tax, interest, penalty, late fee, or any other\n  amount will be debited to this register\n  <\/td><\/tr><tr><td>\n  2\n  <\/td><td>\n  GST PMT-02\n  <\/td><td>\n  Electronic credit ledger\n  <\/td><td>\n  Every claim of ITC shall be credited to this ledger\n  <\/td><\/tr><tr><td>\n  3\n  <\/td><td>\n  GST PMT-03\n  <\/td><td>\n  Refund to be recredited\n  <\/td><td>\n  Refund if rejected the amount debited from the\n  electronic credit ledger or electronic cash ledger, as the case may be, will\n  be recredited by order of a proper officer\n  <\/td><\/tr><tr><td>\n  4\n  <\/td><td>\n  GST PMT-04\n  <\/td><td>\n  Discrepancy in electronic credit ledger\n  <\/td><td>\n  Discrepancy in electronic credit ledger, communicated\n  to an officer through this form\n  <\/td><\/tr><tr><td>\n  5&nbsp;\n  <\/td><td>\n  GST PMT-05\n  <\/td><td>\n  Electronic cash ledger\n  <\/td><td>\n  Any tax, interest, penalty, late fee, or any other\n  amount to be deposited in cash are credited to this ledger\n  <\/td><\/tr><tr><td>\n  6\n  <\/td><td>\n  GST PMT-06\n  <\/td><td>\n  Challan for deposit of tax\n  <\/td><td>\n  Generate and pay a challan\n  <\/td><\/tr><tr><td>\n  7\n  <\/td><td>\n  GST PMT-07\n  <\/td><td>\n  Application for intimating discrepancy relating to\n  payment\n  <\/td><td>\n  The application is meant for the tax payer where the\n  amount intended to be paid is debited from his account but CIN has not been\n  conveyed by bank to Common Portal or CIN has been generated but not reported\n  by concerned bank (within 24 hours of debit)\u201d\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>UNIQUE IDENTIFICATION NUMBER FOR EACH TRANSACTION<\/strong><\/p>\n\n\n\n<p>Within the online GST portal, a unique identification\nnumber shall be generated for each debit or credit to the electronic cash or\ncredit ledgers, as the case may be. This number shall be indicated in the\ncorresponding entry on the electronic tax liability register.<\/p>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>SOME OTHER PROVISIONS<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Whenever a payment of any liability is made,\nthe electronic credit ledger or the electronic cash ledger shall be debited;\nthe electronic tax liability register shall be credited and will display the\nmonthly net tax liability.<\/li><li>Every person who has paid tax on goods and\/or\nservices shall be deemed to have passed on the full incidence of such tax to\nthe recipient unless he proves the contrary.<\/li><li>The balance in the electronic cash ledger or\nelectronic credit ledger after payment of tax, interest, penalty, fees, or any\nother amount payable may be refunded from electronic cash or electronic credit\nledger, respectively.<\/li><li>If a refund claim is rejected, either fully\nor partly, the amount debited, to the extent of rejection, shall be re-credited\nto the electronic cash ledger or electronic credit ledger by the proper\nofficer.<\/li><\/ul>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"MODE_OF_PAYMENT_UNDER_GST\"><\/span><strong>MODE OF PAYMENT UNDER GST<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The mode or methods of tax payment under GST are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2020\/03\/image-75-1.png\" alt=\"\" class=\"wp-image-4086\"\/><\/figure>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>PAYMENT UNDER GST \u2013 DEBIT CARD OR CREDIT CARD<\/strong><\/p>\n\n\n\n<p><strong>Step 1<\/strong>: &nbsp;Access&nbsp;<strong>GSTN<\/strong>&nbsp;for\ngeneration of the Challan.<\/p>\n\n\n\n<p><strong>Step 2<\/strong>: &nbsp;Fill the draft challan.<\/p>\n\n\n\n<p><strong>Step 3<\/strong>: &nbsp;Select the mode of payment.<\/p>\n\n\n\n<p><strong>Step 4<\/strong>: &nbsp;It will direct you to the website of the selected\nbank.<\/p>\n\n\n\n<p><strong>Step 5<\/strong>: Make the payment through the bank will display the\nbreakup of the total amount payable.<\/p>\n\n\n\n<p><strong>Step 6<\/strong>: A unique&nbsp;<strong>CIN<\/strong>&nbsp;(<strong>Challan Identification Number<\/strong>) against the&nbsp;<strong>CPIN<\/strong>&nbsp;(<strong>Common Portal\nIdentification Number<\/strong>) will be created which is an indicator of\na successful transaction.<\/p>\n\n\n\n<p><strong>Step 7<\/strong>: If the transaction is not completed because of failure\nof credential verification, you can refresh the bank system and seek a response\nagainst&nbsp;<strong>CPIN<\/strong>.<\/p>\n\n\n\n<p><strong>Step 8<\/strong>: Upon receipt of completion of the transaction,&nbsp;<strong>GSTN<\/strong>&nbsp;will\ninform the relevant tax authorities about payment. A copy of the paid challan\nand a statement confirming receipt of the payment will be provided to you\nby&nbsp;<strong>GSTN<\/strong>.<\/p>\n\n\n\n<p><strong>Step 9<\/strong>: Thereafter the tax paid challan&nbsp;<strong>CIN<\/strong>&nbsp;will\nbe credited to your tax ledger account.<\/p>\n\n\n\n<p>After the challan is generated,\nit cannot be modified and is valid only for a period of 15 days.<\/p>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>PAYMENT UNDER GST \u2013 NEFT OR RTGS<\/strong><\/p>\n\n\n\n<p><strong>Step 1:<\/strong> In the Payment Modes option, select\nthe&nbsp;NEFT\/RTGS&nbsp;as payment mode.<\/p>\n\n\n\n<p><strong>Step 2:<\/strong> In the&nbsp;Remitting Bank&nbsp;drop-down list, select\nthe name of the remitting bank. Click the&nbsp;GENERATE CHALLAN&nbsp;button.<\/p>\n\n\n\n<p><strong>Step 3:<\/strong> The&nbsp;OTP Authentication box appears. In the Enter\nOTP field, enter the OTP sent on registered mobile number of the taxpayer whose\nGSTIN\/UIN\/TRPID\/TMPID is entered.<\/p>\n\n\n\n<p>UIN:\nUnique Indentificaion Number.<\/p>\n\n\n\n<p>TRPID:\nTax Return Preparer Identification Number.<\/p>\n\n\n\n<p>TMPID:\nTemporary Identification Number. <\/p>\n\n\n\n<p><strong>Step 4:<\/strong> Click the&nbsp;PROCEED&nbsp;button. The&nbsp;Challan is\ngenerated. Take a print out of the&nbsp;Challan&nbsp;and visit the selected\nBank. Mandate form will be generated simultaneously.<\/p>\n\n\n\n<p><strong>Step 5:<\/strong> Pay using&nbsp;Cheque&nbsp;through your account with the\nselected Bank\/ Branch. You can also pay using the account transfer facility.<\/p>\n\n\n\n<p>The\ntransaction will be processed by the Bank and RBI shall confirm the same within\n2 hours.<\/p>\n\n\n\n<p><strong>Step 6:<\/strong> Once you receive the Unique Transaction Number (UTR) on\nyour registered e-mail or mobile number, you can link the UTR with the\nNEFT\/RTGS CPIN on the GST Portal. Go to&nbsp;Challan History&nbsp;and click\nthe&nbsp;CPIN&nbsp;link. Enter the&nbsp;UTR&nbsp;and link it with the NEFT\/RTGS\npayment.<\/p>\n\n\n\n<p>CPIN:\nCommon Portal Identification Number.<\/p>\n\n\n\n<p><strong>Step 7:<\/strong> Status of the payment will be updated on the GST Portal\nafter confirmation from the Bank. The payment will be updated in\nthe&nbsp;Electronic Cash Ledger&nbsp;in respective minor\/major heads.<\/p>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>PAYMENT UNDER GST \u2013 OVER THE COUNTER<\/strong><\/p>\n\n\n\n<p><strong>Step 1<\/strong>: Access&nbsp;<strong>GSTN<\/strong>&nbsp;for generation of a challan.<\/p>\n\n\n\n<p><strong>Step 2<\/strong>: Create the draft challan, and fill the details.<\/p>\n\n\n\n<p><strong>Step 3<\/strong>:&nbsp; Print the challan form, if the payment is made by\ncheque or DD (Demand Draft).<\/p>\n\n\n\n<p><strong>Step 4<\/strong>: Taxpayer will approach the bank for payment of taxes.<\/p>\n\n\n\n<p><strong>Step 5<\/strong>: Taxpayer should carry two copies of the challan, one\nfor the bank\u2019s record and another for getting acknowledgment. He can also use a\nnormal pay-in-slip and mention&nbsp;<strong>CPIN<\/strong>&nbsp;and challan amount in it.<\/p>\n\n\n\n<p><strong>Step 6<\/strong>: The cashier will verify the details of challan, payment\ninstrument and amount provided by the taxpayer.<\/p>\n\n\n\n<p><strong>Step 7<\/strong>: Taxpayer may make payment either by cash or instruments\nof the bank in the same city.<\/p>\n\n\n\n<p><strong>Step 8<\/strong>: In case an instrument drawn on another bank in the same\ncity,&nbsp;<strong>CIN<\/strong>&nbsp;will\nnot be generated at the same time and cashier should write the system generated\nacknowledgment number on the&nbsp;<strong>challan<\/strong>\/<strong>pay-in-slip<\/strong>&nbsp;and&nbsp;<strong>a stamp for\nacknowledgment<\/strong>&nbsp;is subject to realization of the cheque \/\nDD.<\/p>\n\n\n\n<p><strong>Step 9<\/strong>: The bank will inform<strong>&nbsp;GSTN<\/strong>&nbsp;on\nreal time basis in two stages. First when an instrument is given&nbsp;<strong>OTC (Over the\nCounter)<\/strong>. At this stage the bank will forward an electronic\nstring to GSTN which will contain the following details-<\/p>\n\n\n\n<p>1)&nbsp;<strong>CPIN&nbsp;<\/strong>2)&nbsp;<strong>GSTIN<\/strong>&nbsp;3)&nbsp;<strong>Challan\nAmount&nbsp;<\/strong>4)&nbsp;<strong>Bank\u2019s acknowledgment number<\/strong><\/p>\n\n\n\n<p><strong>Step 10<\/strong>: The bank\u2019s system would then send a second message\nto&nbsp;<strong>GSTN<\/strong>&nbsp;after\nthe cheque is realized.<\/p>\n\n\n\n<p><strong>Step 11<\/strong>:&nbsp; A successful transaction or receipt of the second\nmessage from Bank (cheque drawn on another bank), the tax paid challan will be\ncredited to the tax ledger account and hence reducing the liability of the\ntaxpayer.<\/p>\n\n\n\n<p>No changes would be allowed in\nthe challan and it would be valid for 7 days for payment.<\/p>\n\n\n\n<p class=\"has-green-background-color has-background\"><strong>OFFLINE GST PAYMENT AT BANK<\/strong><\/p>\n\n\n\n<p>In case of offline payment\nthrough a bank<strong>:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>In the&nbsp;Payment Modes&nbsp;option, select the&nbsp;Over the Counter&nbsp;as payment mode.<\/li><li>Select the Name of Bank where cash or instrument is proposed to be deposited.<\/li><li>Select the type of instrument as&nbsp;Cash\/ Cheque\/ Demand Draft.<\/li><li>Click the&nbsp;GENERATE CHALLAN&nbsp;button.<\/li><li>The Challan is generated.<\/li><li>Take a print out of the&nbsp;Challan&nbsp;and visit the selected Bank.<\/li><li>Pay using&nbsp;Cash\/ Cheque\/ Demand Draft&nbsp;within the Challan\u2019s validity period<\/li><li>Status of the payment will be updated on the GST Portal after confirmation from the  Bank.<\/li><\/ol>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"CONCLUSION\"><\/span><strong>CONCLUSION<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In short, the GST payment process and GST payment schedule are of key importance to any business in order to remain compliant. It is thus necessary for every business to stay aware of the requisite GST payment formats, make the right GST payment calculations, adhere to the GST payment dates and accordingly pass the correct GST payment vouchers in their books, in order to make GST payment online in time, and continue their business in a hassle free manner.<\/p>\n\n\n\n<p><strong>QUESTIONS COVERED<\/strong><\/p>\n\n\n\n<p>Define the concept of electronic payment system of GST. What methods are allowed to be used for the payment of Tax under GST?<\/p>\n\n\n\n<p>Define the concept of Electronic payment of GST. Explain the system of payment of tax through electronic payment system.<\/p>\n\n\n\n<p><strong>JOIN THE CHANNEL ON TELEGRAM<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/t.me\/commerceiets\" target=\"_blank\">https:\/\/t.me\/commerceiets<\/a><\/p>\n\n\n\n<p><strong>CONNECT ON LINKEDIN<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ONLINE PAYMENT OF GST Online payment of GST is one of the major requisites for a business to stay compliant. As per the guidelines of GST Act, every registered regular taxpayer has to furnish the GST returns on a monthly basis, and pay the requisite tax by the GST payment due date \u2013 20th of&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/online-payment-of-gst\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;ONLINE PAYMENT OF GST&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":4087,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[229],"tags":[],"class_list":["post-4080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-goods-and-service-tax"],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/4080"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=4080"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/4080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/4087"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=4080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=4080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=4080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}