Various Modes to Pay GST

Various Modes to Pay GST
The taxpayer has the option of paying GST online or offline mode. The Commodities and Services Tax (GST) is a tax levied on the supply of goods, services, or both, with a few exceptions on a few specific goods and services. The GST Council gives taxpayers choices for paying taxes on supplies of goods or services delivered. GST will also function as a destination-based consumption tax, meaning that the tax will be applied based on where the goods and services are ultimately consumed. Let’s have a look at the various GST payment options available to people who have registered for GST. Who Is Responsible for GST? If the output tax liability exceeds the input tax due, any person who supplies goods or services must pay GST. If the Reverse Charge Mechanism (RCM) is in effect, the recipient of the goods or services is responsible for paying the GST. However, before registering for GST, the individual must first register with GST. If a taxpayer exceeds the exemption limit, the following are the alternatives for making GST payments on their behalf: GST Portal (after registering with the GST portal and submitting relevant documentation); or a Registered Bank (via the counter or NEFT/RTGS).
Online Payment of GST

Along with the creation of GST challans, GST payments can now be made through online banking through the same platform. The processes for making an online GST payment are available to the taxpayer. First Use the GST site to get started. Select Services > Payments > Create Challan from the drop-down menu. The ‘Create Challan page’ is displayed in the Portal. Enter your GSTIN in the GSTIN/UIN/TRPID/TMPID area.

After logging in to the GST system, individuals with various types of GST registrations must make GST payments using the various modes indicated. The usage of a Unique Identification Number is required by bodies, embassies, government offices, and other persons who have been notified (UIN). To create the challan, tax return preparers must use their Tax Return Preparer Identification Number (TRPID). To produce the challan, an unregistered dealer with a temporary ID must have a Temporary Identification Number (TMPID). The ARN Number must be used while applying for Casual Taxable Person Registration.

Enter the captcha text in the Type the characters shown below field. Then press the PROCEED button. Fill in the details of the payment to be paid in the Tax Liability Details grid. The total amount of payment to be made is auto calculated in the Total Challan Amount and Total Challan Amount (In Words) fields. Select the E-Payment Mode.

Select GENERATE CHALLAN from the drop-down menu. The box for OTP Authentication will appear. Enter the OTP issued to the registered mobile number of the taxpayer whose GSTIN/UIN/TRPID/TMPID is entered in the Enter OTP area. Then press the PROCEED button. The Challan has been produced.

Choose Net Banking as your E-Payment method. Choose the bank through which you want to send the money. Check the box that says, “Terms and Conditions apply.” Make a payment by clicking the MAKE PAYMENT button. If your payment is successful, you will be redirected to the GST Portal, where you can check the status of your transaction. The payment receipt appears on the screen. Click the View Receipt link to see the receipt. You can also make another payment by selecting MAKE ANOTHER PAYMENT from the drop-down menu.

How To Pay GST At a Bank?

Follow these procedures if you’re making an offline payment through a bank. Select Over the Counter as the payment mode in the Payment Modes box. Choose the name of the bank where the cash or instrument will be deposited. Choose between Cash, Cheque, or Demand Draft as the kind of instrument. Select GENERATE CHALLAN from the drop-down menu.

The challan is generated after you click the generate challan button. Take a printout of the Challan and go to the bank of your choice. Within the validity term of the Challan, pay by cash, check, or demand draught. The GST Portal will update the status of the taxpayer’s payment after obtaining confirmation from the bank.

Using NEFT/RTGS

Select NEFT/RTGS as the payment mode in the Payment Modes box. Select the remitting bank’s name from the Remitting Bank drop-down list. Select GENERATE CHALLAN from the drop-down menu. The box for OTP authentication appears. Enter the OTP issued to the registered mobile number of the taxpayer whose GSTIN/UIN/TRPID/TMPID is entered in the Enter OTP area.

Then press the PROCEED button. The Challan is generated by the GST Portal. Take a printout of the Challan and go to the bank of your choice. The Mandate form is generated at the same time by the GST Portal. Pay using a cheque drawn on your account at the bank/branch of your choice. You can also use the account transfer option to make a payment.

The transaction will be processed by the bank, and the RBI will confirm it within two hours. You can link the UTR with the NEFT/RTGS CPIN on the GST Portal once you receive the Unique Transaction Number (UTR) on your registered e-mail or cell phone number. Click on the CPIN link in Challan History. Create a link between the UTR and the NEFT/RTGS payment.

The GST Portal will update the status of the taxpayer’s payment after obtaining confirmation from the bank. The payment will then be updated in the Electronic Cash Ledger to their corresponding minor/major heads by the GST Portal.

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