GST Payment Process in INDIA

Highlights

1.🐌 Only 25 banks have been authorised to collect GST.

🐌Private Banks, HDFC, ICICI and Axis Banks are not eligible to collect GST.
🐌Regd persons having their accounts with these banks can pay only through NEFT/RTGS only.
🐌All tax challans are to be created only after logging into your GST account.
🐌CPIN will be generated for each such challan created.
🐌Such challan can be used to pay later but only within 15 days.

7.🐌 Such challans having CPIN are also required even if you wish to pay through epayment or debit/credit card.

🐌After payment of challan either at bank or epayment mode, a CIN number will be generated.
🐌If payment is made through NEFT/RTGS, then you have to log in to your account and enter your UTR number in your profile.
🐌Three days after the generation of CIN or entering your UTR, your tax payment will be reflected in your e-cash ledger.
🐌Only after the payment is reflected in your e-cash ledger, you can adjust/pay your output liability.
🐌This concept of three days is different from what is in IT, etc.

Conclusion:

🏵You must pay your taxes well 3 days before you file your GSTR-3.Only then you will be able to file your GSTR-3.

🏵In other words, if last date of filing GSTR-3 is 20th, then last date of payment will be 17th.

🙏So please be sure to pay off your tax liability by 15-17th of each month.