Offline Payments: NEFT/RTGS
1. What are the offline modes of payments available for making payments on the GST Portal?
Two types of offline modes of payment are available for making payments on the GST Portal:
a) Over the Counter (OTC)
The OTC option is an offline mode of payment available for making payments through authorized banks on the GST Portal. OTC refers to payment which is physically made by visiting the authorised bank’s branch. There is a tax period wise (monthly/ quarterly) limit of INR 10,000 (Rupees ten thousand only) for OTC payments.
- Demand Draft
The bank details are available at Services > Payments > List of Authorised banks.
NEFT/RTGS mode can be used by generating the Challan on the GST Portal and tendering the payment (only via cheque) at any authorised/ other than authorized bank’s counter. Using this mode, you can deposit any amount to your Electronic Cash Ledger without limits.
1. Can a taxpayer make GST payments through non-agency banks?
Yes, a taxpayer can make GST payments through non-agency banks using NEFT/ RTGS.
2. What is the processing or service charges for NEFT/RTGS transactions?
NEFT/RTGS transaction charges are available on your respective bank websites.
3. What is Unique Transaction Reference Number?
Unique Transaction Reference (UTR) Number is a unique reference number provided by the user’s bank for each NEFT/RTGS transaction made by the account holder.
4. If a payment is not made successfully how will the debited amount be credited to the taxpayer’s account?
In such cases, contact the bank from where the funds were transferred using NEFT/RTGS.
5. Is there any limit on the amount that could be transferred using NEFT/RTGS for a GST payment?
As per current regulations, NEFT can be done for any amount more than 0 (you can even transfer INR 1.00) but NEFT does carry a maximum limit of INR 1,99,999 in many banks.
RTGS can be done for a minimum of INR 2,00,000 up to any amount without limits.
These amounts are governed by the current banking rules; you may refer to the RBI website for the same.
6. Do we need to make a payment to a separate account for paying through the NEFT/RTGS Mode?
No, you don’t need to make payment to any separate account for paying through the NEFT/RTGS Mode. You can issue a cheque directly in favour of ‘YOURSELF FOR NEFT’ for NEFT or ‘YOURSELF FOR RTGS’ for RTGS along with the completely filled mandate form and the bank will debit the payment from your account and transfer it to GST’s RBI account.
7. Whether funds can be transferred to the GST accounts using NEFT/RTGS at any time on any day?
Since this is an offline mode of payment, RTGS/NEFT payments can be made only during your bank branch’s banking hours.
8. Can I make two or more RTGS/NEFT payments for a single CPIN?
No, you need to make one NEFT payment for a single CPIN.
In case you have funds in more than one account, you can either transfer funds to one account and then make a single payment. Alternatively, you can generate separate Challans, breaking up the liability into smaller amounts based on your balances across the accounts and then make a separate payment from each account.
9. What is the necessity of providing the UTR Number to GSTN and within what duration must a taxpayer upload it?
UTR will be used for reconciling the NEFT/RTGS transaction with the RBI. UTR has to be linked if the payment status has not been updated on the GST Portal within 2 hours of making the payment. You can link the UTR by opening your NEFT/RTGS Challan available under Challan History. The option to Link UTR will be there on the landing page of the NEFT/RTGS Challan.
10. What should be done in case I have misplaced the Unique Transaction Reference (UTR)?
Contact the customer care of your bank to get the UTR.
11. Which banks would come under NEFT/RTGS Mode?
The list of bank branches participating in the NEFT system is available on the website of the Reserve bank of India. https://rbi.org.in/scripts/Bs_viewcontent.aspx?Id=112
12. How many NEFT transactions can be made per day?
There is no limit imposed by GST. However, there may be a limit on transactions imposed by your bank so do check the limit with your bank.
13. Can taxpayer deposit DD or cash in case of NEFT/ RTGS?
No. In case of NEFT/RTGS mode of payment, only cheques are allowed.