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Goods and Services Tax would be levied on ‘supply’ of goods and services and hence the present prevalent concepts of levy of excise on the manufacture, VAT/CST on sales, entry tax on entry of goods in the local area would no longer be relevant.
GST registration in Delhi, Gurgaon and other cities at best prices. LegalRaasta is online CA/Agent for GST registration.
For more details about
GST Registration - https://www.legalraasta.com/gst-registration/
GST Return Filing - https://www.legalraasta.com/gst-return/
GST Software - https://www.legalraasta.com/gst-software/
In This Video, Following things are described
00:00 - 01:06
GST Payment Process.
--- The payment process of GST is easy-
First, payment done by an unregistered person will be made on the basis of a temporary identification number generated through GSTN.
- Payment can be done from any mode of any bank, a mandate form will be generated along with the challan and shall be submitted to the bank and it is only valid for 15 days, when the amount will be realized, a challan identification number i.e., a CIN will be generated by the bank and the same will be indicated in the challan.
- Then, on the receipt of the CIN, the amount will be credited to the electronic cash ledger of that person and the GSTN will provide a receipt of that deposit.
- If any problem arises, it can be presented in GST payment form 7 through the GSTN to the bank.
01:06 - 01:42
Modes of Payment are-
1. Internet banking
2. Credit or debit card
3.NEFT or RTGS, or
4. Over the counter payment for deposits up to Rs. 10,000/- per Challan.
01:42 - 03:17
A detailed process of payment through NEFT/RTGS/Debit or Credit Card.
--- FOR NEFT or RTGS
- First, access the GSTN for generation of a challan, then fill in the details of the taxes that are to be paid and choose the payment mode NEFT or RTGS.
- When the challan is fully generated a Unique Common Portal Identification Number i.e., CPIN will be generated to you.
- Along with the challan, GSTN will also generate NEFT/RTGS mandate form and the payment in this mode would be permitted only against cheques.
--- FOR DEBIT/CREDIT CARD PAYMENT
- First, Access the GSTN for generation of challan and fill in the details. After the challan is generated it cannot be modified and will be valid for only 15 days.
- There are 3 modes of payment- Internet banking, credit card and debit card, choose one of them and GSTN will direct you to the website of the selected bank.
- Make the payment and after completion of a transaction, a unique CIN will be generated to you which shows that the transaction is successful.
- But, if the transaction is not completed, you can re-ping the bank system and seek a response against CPIN.
- Upon receipt of completion of the transaction, a copy of the paid challan and a statement confirming receipt of the payment will be provided to you and the tax paid challan CIN will be credited to your tax ledger account.
03:17 - 04:50
Detailed process of over the counter payment through bank challan
--- FOR OVER THE COUNTER PAYMENT
- You have to access GSTN for generation of challan.
- After creation of challan, you need to fill in the details and you cannot make any changes in challan and it will be valid for 7 days.
- Then you can print the challan. You have to approach the bank for payment of taxes. You have to pay 4 types of taxes.
- You should carry 2 copies of the challan, one for bank’s record and another for your acknowledgement.
- The cashier will verify the details of challan and payment instrument.
- You can make payment either by cash or instruments of the bank.
- The bank will inform GSTN at 2 stages.
1) 1st when an instrument is presented over the counter. At this stage, the bank will forward details like CPIN, GSTIN, Challan Amount and Bank’s Acknowledgment No.
2) 2nd when the cheque is realised.
04:50 - 05:17
To know more on GST, please refer to other videos by LegalRaasta. You can also login to our website www.legalraasta.com. In fact, you can get GST registration and GST filing services from LegalRaasta. CAs or accountants can use LegalRaasta software for filing GST return.
Call us at 8750008585 for more details.
