GST Payment – Analysis of Draft Rules released by Govt of India

By | September 29, 2016

GST Payment  -Analysis of Draft Rules released by Govt of India

Key point above Draft Rules related to GST Payment

  • 7 forms from GST PMT-1 to GST PMT-6 released for GST payment of tax.
  • The tax payable by every person under GST Law including interest, penalty or any other sum is reflected in “Electronic Tax Liability Register”.
  • The basis for amounts payable as per Electronic Tax Liability Register can be on account of self-assessed tax in periodical returns or input tax credit mismatches or tax demands by authorities etc.
  • GST Payment of amounts reflected in Electronic Tax Liability Register can be made through the balances in “Electronic Credit Ledger” or “Electronic Cash Ledger”.
  • Balance in Electronic Credit Ledger represents the claim of input tax credits made through periodical returns.
  • Balance in Electronic Cash Ledger represents the amounts deposited by the taxable person.
  • The balances of both ledgers can be used for GST payment of tax and other liabilities reflected in Electronic Tax Liability Register subject to the restrictions as per the GST Law.
  • The GST payments are made through debit and corresponding credit entries in Ledgers and Liability Register respectively. A unique transaction number will be assigned by GSTN for each GST payment.
  • Different Modes are prescribed for deposit of amount in Cash Ledger including over the counter payments in banks by generating GST payment challan on GSTN.
  • Credit or Cash ledger stands has to be debited to the extent of refund claimed as per the provisions of GSTN. The amount would be added back to the respective ledger to the extent of refund rejected.
  • All of the above transactions are required to be made through GSTN.

Download GST Draft Payment Rules Released by CBEC

Download GST Draft Payment formats Released by CBEC

Education Guide on Goods & Service Tax (GST)


S. No. Title of the Post
1. Goods and Services Tax (GST): An Overview
2 Levy of GST & Exemption from Tax
3. GST Registration
4. Meaning and Scope of Supply
5 Time of Supply
6 Valuation in GST
7. GST Payment of Tax
8 Electronic Commerce under Goods & Service Tax (GST)
9 Job Work under Goods & Service Tax (GST)
10 Input Tax Credit under Goods & Service Tax (GST)
11 Concept of Input Service Distributor in Goods & Service Tax (GST)
12 Returns Process and matching of Input Tax Credit under GST
13 Assessment and Audit under GST
14 Refund under GST
15 Demands and Recovery under GST
16 Appeals, Review and Revision in GST
17 Advance Ruling in Goods and Service Tax (GST)
18 Settlement Commission in Goods and Service Tax (GST)
19 Inspection, Search, Seizure and Arrest under GST
20 Offences, Penalty, Prosecution & Compounding in GST
21 Integrated Goods & Service Tax (IGST) Act Overview
22. Place of Supply of Goods and Service under GST
23. Frontend Business Process on GST Portal
24. Transitional Provisions in Goods & Service Tax (GST)


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