In this article, we have covered different topics that fall under GST Payment. Here is the table content for the same:
Under the GST regime, there are various types of GST payment and they are:
Intra-state supply; wherein the taxpayer is required to pay CGST that goes into the Central Government Account and SGST/UTGST that goes into the account of the concerned Union Territory or State.
Inter-state supply; in this type of supply, the taxpayer is required to pay IGST which will have components of both CGST and SGST and GST payment received directly remits to the Central Government account.
Generally, every supplier supplying goods and services is required to pay GST online. However, there are certain cases where the recipient is required to pay GST online such as imports and other notified supplies. These kinds of supplies are known as reverse charge supplies. Moreover, there are certain cases where the liability to pay tax is on 3rd person, the common example of such supplies are TCS and TDS.
As per section 12 and 13 of the GST Act, the taxpayer is required to pay GST on goods or services at the time of their supply. The supply time as per the GST Act is generally the earliest of the following,
- Issuance of invoice; or
- Receiving payment; or
- Completion of supply
Here is a process through which a taxpayer can make GST payment online:
STEP-1 Log in to the GST Portal (www.gst.gov.in) using valid credentials and captcha code
STEP-2 From the drop-down of services choose payments and under the payments option you can find the link of creating challan
STEP-3 After entering the amount of payment, choose the method of GST payment. There are three option to make GST Payment online and they are
- E-payment through internet banking and credit/debit card
- Over the counter payment
Once all the details have been furnished, click on the Generate Challan button.
Note: For over the counter GST payment there is a limit of 10K INR per challan.
STEP-4 After clicking on the Generate Challan button a challan will generate containing all the details of taxes. Once you make GST Payment online or offline the amount paid will reflect into the cash ledger of the taxpayer.
Q1. For how long the generated challan will be valid?
Ans. A challan is valid for 15 days from the date of its generation. Howsoever, the taxpayer can generate a new challan after the expiry of the previous one.
Q2. What is Common Portal Identification Number (CPIN)?
Ans. CPIN is an acronym for Common Portal Identification Number that is a fourteen digit identification number that helps in identification of the generated challan.
Q3. What is Challan Identification Number (CIN)?
Ans. CIN is Challan Identification Number that is of 17 digits where the first 14 digits are CPIN and the following 3 digits are bank code. CIN is generated by authorized bank or RBI when the amount is credited into the relevant account of government. The CIN generated is communicated to both the taxpayer and GSTN.