Mode of Payment :

As per section 35 (1) of the Act, every deposit made towards tax, interest, penalty, fee or any other amount shall be credited to the electronic cash ledger of a taxable person by:

i. internet banking or by using credit/debit cards or

ii. National Electronic Fund Transfer (NEFT) or Real Time Gross Settlement (RTGS) or

iii. any other mode,

Conditions and restrictions with respect to mode of payment and the manner shall be prescribed in the rules.

What is the meaning tax?   As per section 2 (94) of the Act, tax means goods and services tax levied on the supply of goods and/or services under this Act and includes any amount payable under section 8.

 

Date of deposit:

As per the explanation to section 35 (1) of the Act, the date of credit to the account of the appropriate Government in the authorized bank shall be deemed to be the date of deposit.