To make a GST payment, the GST payment challan has to be first generated from the GST portal. Once this is done, the payment can be made by internet banking, credit/debit card, NEFT or cash payment at selected banks. In this article, we will go through the procedure for creating GST payment challan and making the GST payment.
GST Payments Modes
The payment for the GST can be made through the following modes:
a. Internet Banking through the authorised banks;
b. Debit card or Credit card through the authorised bank;
c. The National Electronic Fund Transfer or Real Time Gross Settlement from any bank; or
d. Over-the-counter payment through the authorised banks for deposits up to Rs. 10,000 per challan per tax period, by cash, cheque or through a demand draft.
Banks Accepting the GST Payments
Given below is the list of banks that have been authorised to accept GST payments on behalf of the Government. The list comprises all nationalised banks and a handful of large private banks such as ICICI and HDFC. Taxpayers can generate a GST payment challan and proceed to one of the following banks for payment of GST by cash, cheque or DD.
BANK OF BARODA;
BANK OF INDIA;
BANK OF MAHARASHTRA;
CENTRAL BANK OF INDIA;
ICICI BANK LIMITED;
INDIAN OVERSEAS BANK;
JAMMU AND KASHMIR BANK LIMITED;
ORIENTAL BANK OF COMMERCE;
PUNJAB AND SIND BANK;
PUNJAB NATIONAL BANK;
STATE BANK OF INDIA;
UNION BANK OF INDIA;
UNITED BANK OF INDIA;
Procedure for Creating the GST Payment Challan
You can follow the steps below to easily create a GST payment challan. This is the first step towards making the GST payment.
Step 1: Login to the GST Portal
Sign in to your GST account on the GST portal. Click on button create challan in the GST dashboard. Step 2: Enter details of the GST payment you would like to remit Step 3: Verify GST payment details
In the page shown below, enter details of the GST payment that you would like to remit. The amount has to be provided under heads of the CGST, IGST, Cess and the SGST. Also, the breakup of the payment made towards tax, fee, interest, penalty and others can also be mentioned. Select the mode of payment from the payment modes option. Once all these details are mentioned, click on Generate Challan.
In the next screen, you are supposed to verify details of the payment and click on make payment. In case it is cash payment, a GST payment challan like the one shown below will be generated. The payment challan can be produced at one of the banks that is mentioned above to make over the counter payment.
Sign in to your GST account on the GST portal. Click on button create challan in the GST dashboard.
Step 2: Enter details of the GST payment you would like to remit
Step 3: Verify GST payment details