Tally

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More


A registered taxable person, or any other person on his behalf, shall generate a challan in FORM GST PMT-06 on the Common Portal and enter the details of the amount to be deposited by him towards tax, interest, penalty, fees or any other amount and pay the amount through the following means:

  1. Internet banking through authorized bank.
  2. Credit/debit card through the authorized bank.
  3. National Electronic Fund Transfer (NEFT) or Real Time Gross Settlement (RTGS) from any bank.
  4. Over the Counter payment (OTC) through authorized banks for deposits up to ten thousand rupees per challan per tax period, by cash, cheque or demand draft.

The date of credit to the account of the appropriate Government in the authorized bank shall be deemed to be the date of deposit in the electronic cash ledger. Therefore, the due date for payment of tax shall be the due date for filing of returns.

CIN is the number generated for identification of payment made by the taxable person. It will be generated upon successful credit of the amount to the concerned government account maintained in the authorized bank.

If Challan Identification Number (CIN) is not generated, the said person may represent electronically in FORM GST PMT-07 through the Common Portal to the Bank or electronic gateway through which the deposit was initiated.

FORM GST PMT-06 contains separate columns for CGST, IGST, UTGST and SGST which shall deposit the amount to the respective account of the government though paid through a single challan, therefore, CGST, IGST, UTGST and SGST can be paid together in a single challan

If taxable person pays the wrong tax i.e. IGST instead of CGST/SGST or vice versa, then Remit tax again and claim refund of wrongly paid tax.

If taxable person pays tax under wrong GSTIN pay again under right GSTIN and claim refund.

List of forms :


Sr. No.

Form No.

Title of the Form

1.

Form GST PMT-01

Electronic Liability Register of registered person (Part–I: Return related liabilities Electronic Liability Register of taxable person (Part–II: Other than return related liabilities)

2.

Form GST PMT-02

Electronic Credit Ledger

3.

Form GST PMT-03

Order for re-credit of the amount to cash or credit ledger on rejection of refund claim

4.

Form GST PMT-04

Application for intimation of discrepancy in Electronic Credit Ledger/Cash Ledger/Liability Register

5.

Form GST PMT-05

Electronic Cash Ledger

6.

Form GST PMT-06

Challan For Deposit of Goods and Services Tax

7.

Form GST PMT-07

Application for intimating discrepancy in making payment


The format of all the forms can be accessed through the link below:
http://www.cbec.gov.in/resources//htdocs-cbec/gst/payment-formats17052017-revised2.pdf

There are 3 types of Ledgers under GST which will be maintained on the common portal. Lets take a better understanding of these ledgers.

Electronic Tax Liability Register

Electronic tax liability register is a register to be maintained in the common portal of GST in FORM GST PMT-01 to record all liabilities of a taxable person. Part-I is for recording return related liabilities and Part-II is for recording other than return related liabilities.

Possible debits and credits to Electronic tax liability register


Debit Credit

Particulars

Amount

Particulars

Amount

Amount payable towards tax, interest, late fee or any other amount payable as per the return filed by the said person

XXX

ITC Adjusted through Electronic Credit Ledger.

XXX

Amount of tax, interest, penalty or any other amount payable as determined by a proper officer in pursuance of any proceeding under the Act or as ascertained by the said person

XXX

Payment through Electronic Cash Ledgers. (Payment of TDS, TCS, Reverse Charge and Composite tax)

XXX

Amount of tax and interest payable as a result of mismatch under Matching, reversal and reclaim of input tax credit; or Matching, reversal and reclaim of reduction in output tax liability; or Interest on delayed refunds.

XXX

Reduction in Penalty(if any)

XXX

Amount of interest that may accrue from time to time.

XXX

Relief given by authority

XXX


Electronic Credit Ledger

Electronic credit ledger is a register to be maintained in the common portal of GST in FORM GST PMT-02 to record input tax credit claimed, utilization, reversal and refund.

Possible debits and credits to Electronic credit liability register


  Debit Credit

Particulars

Amount

Particulars

Amount

ITC adjusted against the Output Liability

XXX

Input Tax Credit claimed

XXX

Claim refund of any unutilized amount

XXX

Refund Rejection.

XXX


Electronic Cash Ledger: Electronic cash ledger is a register to be maintained in the common portal of GST in FORM GST PMT-05 to record deposit of tax, interest, penalty and other amounts, utilization thereof and refund

Possible debits and credits to Electronic cash liability register


Debit Credit

Particulars

Amount

Particulars

Amount

Payment of TDS and TCS

XXX

Amount deposited for payment of taxes, interest, penalty, late fee or any other amount paid

XXX

Payment of Reverse Charge

XXX

Refund Rejection

XXX

Liability of composite tax

XXX

Debited for payment of taxes, interest, penalty, late fee or any other amount

XXX

Claim refund of any unutilized amount


Other Pointers:

  • There is no restriction on the account to be used by the taxable payment for payment of tax. The payment can be made by a third party from his account using the GSTIN of the taxable person to get the amount debited to the electronic cash ledger of the taxable person.
  • All payments will reflect in the 'electronic cash ledger' of the person. As the portal is common for CGST, SGST, UTGST and IGST, all the payments will be reflected in a single electronic cash ledger.
  • Input tax credit cannot be used for payment of Interest/Penalty/Reverse Charge Tax.
  • Tax dues means the tax payable under this Act and does not include interest, fee and penalty.
  • Other dues means interest, penalty, fee or any other amount payable under the Act or the rules made thereunder.
  • The challan for payment of tax (FORM GST PMT-06) does not collect details of the period for which the deposit of tax is made and can be utilized against any liability for any month.
  • Upon utilization of central tax credit for payment of integrated taxes, the amount collected as central tax will stand reduced to that extent and the Central Government will transfer an amount equal to the credit from the central tax account to the integrated tax account.

Disclaimer: The views expressed in this article are strictly personal. The content of this document are solely for informational purpose. It doesn’t constitute professional advice or recommendation. The Author does not accept any liabilities for any loss or damage of any kind arising out of information in this article and for any actions taken in reliance thereon.


Tags :



Category GST, Other Articles by - Sagar Bhavsar 



Comments


update