Payment Process under GST of India ; Deep analysis

By | October 3, 2016
(Last Updated On: October 3, 2016)

Payment Process under GST of India

  • Section 35 of the Model GST Act deals with payment of tax, interest, penalty and other amounts. It provides that every deposit made by internet banking or by using credit/debit cards or NEFT/RTGS or by any other mode, shall be credited to the electronic cash ledger to be maintained in the manner prescribed. Further, the amount of input tax credit as self-assessed in the return shall be credited to electronic credit ledger etc. – See more at:
  • 4 Rules for Payment Prescribed- The Draft Payment Rules have 4 Rules viz. Electronic Tax Liability Register, Electronic Credit Ledger, Electronic Cash Ledger and Identification number for each transaction.

    Download GST Draft Payment Rules Released by CBEC

  • Forms of various electronic register/ledger- The electronic tax liability register shall be maintained in FORM GST PMT-1, the electronic credit ledger in FORM GST PMT-2 and the electronic cash ledger in FORM GST PMT-3.
  • Mode of Payment of tax- Tax can be paid either through net banking, credit or debit card, NEFT/RTGS, Over the Counter (“OTC”) [OTC payment only up to Rs. 10,000 per challan per tax period].Cash Payment on OTC-mode-2 -Payment Process under GST cheque payment mode-Payment Process under GST Payment in E Mode-Payment Process under GST of indiaPayment through RTGS Payment Process under GST of india
  • Unique Identification Number (UIN)- A UIN shall be generated at the Common Portal for each debit or credit to the electronic cash or credit ledger. Generation of UIN for every transaction – to be correlated with tax liability register.
  • 7 Forms for Payment prescribed -7 Forms for payment has been prescribed (Form GST PMT-1 to Form GST PMT -6 and Form GST PMT-2A), namely-

    Download GST Draft Payment formats Released by CBEC

Download  GST -Draft Registration formats released by CBEC

Download GST -Draft Registration Rules Released by CBEC

Download Draft GST Refund Rules released by Govt

Download Draft GST Refund Forms released by CBEC

Download Draft GST Return Rules Released by Govt

Download Draft GST Return Formats released by Govt



Education Guide on Goods & Service Tax (GST)


S. No.Title of the Post
1.Goods and Services Tax (GST): An Overview
2 Levy of GST & Exemption from Tax
3.GST Registration
4.Meaning and Scope of Supply
5Time of Supply
6Valuation in GST
7.GST Payment of Tax
8Electronic Commerce under Goods & Service Tax (GST)
9Job Work under Goods & Service Tax (GST)
10Input Tax Credit under Goods & Service Tax (GST)
11Concept of Input Service Distributor in Goods & Service Tax (GST)
12Returns Process and matching of Input Tax Credit under GST
13Assessment and Audit under GST
14Refund under GST
15Demands and Recovery under GST
16Appeals, Review and Revision in GST
17Advance Ruling in Goods and Service Tax (GST)
18Settlement Commission in Goods and Service Tax (GST)
19Inspection, Search, Seizure and Arrest under GST
20Offences, Penalty, Prosecution & Compounding in GST
21Integrated Goods & Service Tax (IGST) Act Overview
22.Place of Supply of Goods and Service under GST
23.Frontend Business Process on GST Portal
24.Transitional Provisions in Goods & Service Tax (GST)


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