Payment of Tax under GST

An electronic ledger that records all tax liabilities of a taxable person under the GST Act.

A specific order in which a taxable person must pay their dues, starting with self-assessed taxes from previous periods, then current periods, and finally any additional liabilities determined through notice or adjudication.

The self-assessed tax and other dues related to the tax return of previous tax periods.

The self-assessed tax and other dues related to the tax return of the current tax period.

Any amount payable under the GST Act or the rules made thereunder, including demands determined under Section 73 and Section 74.

A 14-digit number generated when a challan is created before payment of GST. It is used to identify the GST challan.

A unique 17-digit number generated when a challan is paid. It comprises the 14-digit CPIN and a 3-digit bank code. Used to track the status of a GST challan.

The transaction number given by the bank for a payment against a challan.

The amount that is rejected or partially rejected in a refund claim gets credited to the taxpayer's electronic cash ledger.

A registered person can transfer funds from their electronic cash ledger for different types of GST taxes using FORM GST PMT 09.

A registered person must notify the tax officer through the common portal in FORM GST PMT 04 if they notice any discrepancies in their electronic cash ledger.

Authorized branches of banks that collect GST payments. Each bank designates only one branch as its E-FPB for nationwide transactions.

The E-FPB (Electronic Focal Point Branch) holds accounts in each major head to receive and credit GST payments from taxpayers.

The amount credited to a person's electronic cash ledger (ECL) when a tax payment is made through NEFT, RTGS, or immediate payment services.

A mandate form generated along with the challan for online tax payments. It is valid for 15 days from the date of challan registration.

A unique number generated by the collecting bank when a tax payment is successfully credited to the government's account.

When the government receives a CIN from the bank, the amount is credited to the taxpayer's ECL, and a receipt is available on the common portal.

When the bank debits your account but does not generate or communicate the CIN, you can use FORM GST PMT 07 to inform the bank or the electronic gateway.

In case the bank doesn't communicate CIN details to the GST system, the ECL is updated the next day using the RBI e-scroll, which contains details of successful payments.

The ECL is updated based on the RBI e-scroll if the details match the challan details generated in FORM GST PMT 06 on the common portal.

When taxes deducted at source (TDS) or collected at source (TCS) are claimed by the registered taxpayer, the amount is credited to their ECL.

The tax amount deducted at source by the person making the payment to the supplier of taxable goods and/or services. This is done when the total value of the supply under a contract exceeds ₹2,50,000.

Individuals or entities required to deduct tax at source before making payments for goods or services.

The threshold limit for TDS is triggered when the total value of supplies under a contract exceeds ₹2,50,000. This value excludes taxes like CGST, SGST, UTGST, IGST, and cess.

The person responsible for paying the tax amount deducted at source to the government. They also issue a certificate to the recipient of the payment.

The person who receives the payment from the deductor and is entitled to credit for the tax deducted at source.

A document issued by the deductor to the deductee confirming the tax deducted at source.

The standard rate of TDS is 1% of the payment made to the supplier when the total value of the supply under a contract exceeds ₹2,50,000.

No TDS is required when the supplier and the place of supply are located in a different state or union territory from the recipient's registration state/territory.

The supplier who has supplied goods or services or both through the operator shall claim credit in his electronic cash ledger, of the amount collected and reflected in the statement of the operator furnished.

An authority, at least a Deputy Commissioner, can issue a notice to the operator demanding details about supplied goods or services, or the supplier's stock.

The operator must provide the requested information within 15 working days of receiving the notice.

Failure to provide the required information can result in a penalty of up to 25,000 rupees, in addition to any other actions taken.

A unique identification number is automatically generated for each debit or credit transaction in the electronic cash or credit ledger.

The unique identification number related to the discharge of liabilities is recorded in the electronic liability ledger.

The provisions aim to simplify and standardize the process of refunding tax under the GST regime.

Refund includes tax paid on zero-rated supplies, deemed exports, or unutilized input tax credit.

A tax collected by an e-commerce operator (ECO) from other suppliers who use the ECO's platform to sell goods or services. This tax is calculated as a percentage of the total value of taxable supplies made through the ECO.

The ECO must pay the collected tax to the government within 10 days after the end of the month in which the collection was made. This payment happens through the process specified by the government.

Every ECO is required to submit a monthly statement electronically, containing details about the goods or services sold through their platform, including any returns, and the total tax collected during the month. This statement is submitted within 10 days after the end of the month.

The Commissioner of CGST (Central Goods and Services Tax) can extend the deadline for submitting the GSTR-8 statement for specific groups of registered persons. This extension needs to be in writing and clearly states the reasons.

The ECO needs to submit an annual statement electronically, containing information about the total sales made through their platform, returned products, and the total tax collected during the year.

This annual statement needs to be submitted by the 31st of December following the end of the financial year. It should contain all the necessary details in the prescribed format.

If an ECO finds any errors or omissions in their previously submitted statements, they can rectify them with the tax authorities, subject to paying any necessary interest. However, this option is only available within a specific timeframe.

The deadline for correcting mistakes in previously submitted statements is either the 30th of November following the end of the financial year or the date the annual statement was submitted, whichever comes first.