How to Pay GST Payment Online | GST Payment Process | BharatBills
At this point, you have probably understood the importance of registering your business under the GST and have begun the process of GST registration. However, it is vital to know how to do GST payment online.
Which GST Payments Do You Need to Make?
Under the new GST system, GST is levied in 3 different forms depending on the type of transaction, these are:
The Integrated GST or IGST is levied by the center when the supply of goods or services is made between states.
The Central GST or CGST is levied by the central government for the supply of goods or services within a state.
State GST or SGST is levied by the state government for the supply of goods or services within the state.
- If you’re registered under GST and are making taxable supplies under GST.
- If you are an E-Commerce operator registered under GST by which specific categories of notified supplies are made.
- If you’re an E-Commerce operator filed under the GST and therefore are expected to collect tax (TCS).
- If you’re a person enrolled under the GST and are required to subtract Tax (TDS).
IGST: GST payments can be made through a Credit Ledger along with a Cash Ledger. The online GST Portal functions as an excellent source of information for everything you may need to learn about GST Payment Online. These measures should suffice to get you started with filing your GST returns.
GSTR-8: This is the yearly GST return for a taxpayer who has registered under the composition scheme. Return filing needs to be accomplished annually.
GSTR-3B: This is a GST return for an Input Service Distributor. This return is accumulated monthly.
GSTR-9A: A GST return is a record that a taxpayer must file with the taxation administrative government that contains all of the details of her or his earnings. GST returns are frequently employed by tax authorities to calculate the tax liability of these taxpayers. It’s collected every month. This GST return has to be filed by police deducting tax at source. It’s collected every month. The overdue fee to be paid is Rs. 100 daily per Act, which means that you may have to pay Rs. 100 under CGST & Rs.100 under SGST. The total works out to Rs. 200/day. But, there is no late charge for IGST. This is a summary of the external supplies together with the Input Tax Credit where the payment of taxation is affected. It’s accumulated monthly. Under the new GST system, GST is levied in 3 Distinct forms depending on the type of trade.
GSTR-7: If GST Returns are not filed in time, you will be required to pay the interest plus a penalty.
GSTR-11: This can be a GST return for a Non-Resident foreign taxable person. It is collected each month. This is the GST return for a citizen who’s registered under the composition scheme. It’s collected quarterly. State GST or SGST is levied by the state government for the distribution of products or services within the state.
Here is a step-by-step guide that will help you make GST payment online with ease:
Visit the official GST site and enter your username, password, along with the given captcha code, and then log in to your account about the GST Portal.
Visit the’Services’ tab, then select payments, and click the “Create Challan” option.
Type the amount you need to cover and select the GST payment system you want to employ. Input all the details and click on ‘Create Challan.’ Click the GST payment style and hit on the ‘MAKE PAYMENT’ button.
Once the GST payment is created, you will be given a challan which consists of all of the specifics of the tax which you’ve paid.
The challan for the tax paid will be transmitted to your money ledger account.
Now, you have probably understood the importance of registering your company below the GST and have begun the practice of GST registration. However, it’s vital to know how to do GST payment online.