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GST

Goods and Services Tax Act – GST Law

Payment Process

Payment Process

Payment Process Only electronically generated Challan from GSTN for all 3 modes of payment; Unique 14-digit Common Portal Identification Number (CPIN) for each challan; Challan can be generated by Taxpayer, […]

Due Date of Making Tax Payment

Due Date of Making Tax Payment

Due Date of Making Tax Payment CGST / SGST / IGST Payment Date = 20th of the Succeeding Month Normal Taxpayer on Monthly Basis Composition Taxpayer on Quarterly Basis TDS […]

Time of Payment

Time of Payment

Time of Payment On occurrence of any one of the following events, GST payment would become due (earliest of the following): Receipt of advance Issuance of Invoice Completion of Supply

Concept of Electronic Focal Point Branch (E-FPB)

Concept of Electronic Focal Point Branch (E-FPB)

Concept of Electronic Focal Point Branch (E-FPB) E-FPB are branches of authorized banks designated to collect payment of GST. Each authorized bank will nominate only one branch as its E-FPB […]

Electronic Credit Ledger

Electronic Credit Ledger

Electronic Credit Ledger Input tax credit balance uploaded from GST TRAN – 1 shall be credited to the Electronic Credit Ledger on common portal; ITC would be of stock of […]

Mode of Payment

Mode of Payment

Mode of Payment Principal tax liability: Debit to Electronic Credit Ledger of the Taxpayer maintained on the “Common Portal – Only”; Interest, Penalty and Fees cannot be paid by debiting […]

Persons liable for Payment

Persons liable for Payment

Persons liable for Payment Generally, Supplier is liable to pay the tax In Other cases like:   Imports and other notified supplies, liabilities may be imposed on the recipient under […]

Types of Payments under GST

Types of Payments under GST

Types of Payments under GST For Supply of Inter-state / Intra State: CGST = A/c of the Central Govt. SGST = A/c of concerned State Govt. IGST = Components of […]

Analysis

Analysis

Analysis U/s 49 (5) (b) (c) and (d) of the Act, SGST / CGST / UTGST credits can be utilised by a tax payer on priority basis to respective SGST […]

Introduction

Introduction

Introduction This Section provides simple but important modus operandi in respect of post CGST/ SGST/UGTST utilisation towards IGST liability.