{"id":54624,"date":"2017-05-04T15:23:36","date_gmt":"2017-05-04T09:53:36","guid":{"rendered":"http:\/\/www.vskills.in\/certification\/tutorial\/?p=54624"},"modified":"2024-04-12T14:20:17","modified_gmt":"2024-04-12T08:50:17","slug":"gst-payment-goods-service-tax","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/gst-payment-goods-service-tax\/","title":{"rendered":"GST Tutorial | GST Payment | Goods and Service Tax"},"content":{"rendered":"<h1>GST Payment | Goods and Service Tax<\/h1>\n<p>Goods and Service Tax Payment methods constitutes of topics based on GST Payment Slip, Tax Payment, Input Tax Credit Transfer and GST Refund.<\/p>\n<p>Now lets move to the major features of the proposed payments procedures under GST are as<\/p>\n<ul>\n<li>Electronic payment process- no generation of paper at any stage<\/li>\n<li>Single point interface for challan generation- GSTN<\/li>\n<li>Ease of payment \u2013 payment can be made through online banking, Credit Card\/Debit Card, NEFT\/RTGS and through cheque\/cash at the bank<\/li>\n<li>Common challan form with auto-population features<\/li>\n<li>Use of single challan and single payment instrument<\/li>\n<li>Common set of authorized banks<\/li>\n<li>Common Accounting Codes<\/li>\n<\/ul>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/tutorial\/accounting-banking-finance\/gst-payment-goods-service-tax\/attachment\/gst-payment\/\" rel=\"attachment wp-att-54631\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-54631\" src=\"http:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Payment.png\" alt=\"\" width=\"1106\" height=\"629\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Payment.png 1106w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Payment-300x171.png 300w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Payment-768x437.png 768w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Payment-1024x582.png 1024w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Payment-712x405.png 712w\" sizes=\"auto, (max-width: 1106px) 100vw, 1106px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2>Payment process under GST<\/h2>\n<p><b>Electronic tax liability ledger<br \/>\n<\/b><\/p>\n<p>Each registered taxpayer under GST has to maintain an electronic tax liability ledger. The electronic tax liability ledger would show the tax due from a regular tax return, and the interest, penalty, demand notice under each of the major heads. Payments can be made using the input tax credit (ITC) available in the electronic credit ledger.<\/p>\n<p><b>Electronic cash ledger<br \/>\n<\/b><\/p>\n<p>Payments would be made under 3 major heads named CGST, SGST, IGST and it is further divided into the different minor heads like tax, interest, penalty, fees and others. The electronic cash ledger would be debited for the total value in case of payments being made from any or combination of the above major\/minor head.<b> <\/b>The electronic cash ledger will also display the balance available under the various combination of the major-minor head and any refunds received by the taxpayer would reflect in this ledger.<\/p>\n<p><strong>Electronic credit ledger<br \/>\n<\/strong><\/p>\n<p><b>&nbsp;<\/b>All the taxes paid on the inputs would be recorded in the electronic credit ledger. The input tax credit in each of the cases mentioned below, shall also be transferred to the electronic credit ledger:<\/p>\n<p>&nbsp;<\/p>\n<h3><a href=\"https:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\/gst-professional\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-61729\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials.png\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials.png 1200w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials-300x45.png 300w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials-768x115.png 768w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials-1024x153.png 1024w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials-712x106.png 712w\" alt=\"\" width=\"1200\" height=\"179\"><\/a><\/h3>\n<h3><a href=\"https:\/\/www.vskills.in\/practice\/skills\/Accounting\/GST-Professional\">Free GST Practice Tests | Go To GST Practice Test Now<\/a><\/h3>\n<h3><a href=\"https:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\/gst-professional\">Apply for Govt Certified GST Certification Now!!<\/a><\/h3>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/tutorial\/accounting-banking-finance\/gst-tutorial\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-55483 size-full\" src=\"http:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/Back-Arrow.jpg\" alt=\"GST Tutorial Index\" width=\"47\" height=\"52\">Back to GST Tutorial Main Page <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST Payment | Goods and Service Tax Goods and Service Tax Payment methods constitutes of topics based on GST Payment Slip, Tax Payment, Input Tax Credit Transfer and GST Refund. Now lets move to the major features of the proposed payments procedures under GST are as Electronic payment process- no generation of paper at any&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[4,7079],"tags":[7097,7107,7104,7093,7103,7080,7089,7106,7101,7102,7100,7094,7091,7095,7090,7096,7092,7086,7099,7085,7083,7084,7105,7088,7087,7098],"class_list":["post-54624","page","type-page","status-publish","hentry","category-accounting-banking-finance","category-gst-tutorial","tag-about-gst-bill","tag-full-form-of-gst-bill","tag-good-and-service-tax","tag-goods-and-services-tax","tag-goods-service-tax","tag-gst","tag-gst-bill","tag-gst-bill-full-form","tag-gst-bill-meaning","tag-gst-definition","tag-gst-details","tag-gst-full-form","tag-gst-india","tag-gst-meaning","tag-gst-registration","tag-gst-tax","tag-income-tax-act","tag-income-tax-return","tag-meaning-of-gst","tag-service-tax","tag-tax","tag-tax-return","tag-what-does-gst-stand-for","tag-what-is-gst","tag-what-is-gst-bill","tag-what-is-gst-tax"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GST Payment | Goods and Service Tax<\/title>\n<meta name=\"description\" content=\"Goods and Service Tax Payment constitutes of GST payment methods, GST Slip, Input Tax Credit Transfer and GST Refunds. 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