GST Online Payment: Know About The Procedure for Payment Under GST in India

by Anvika aryaDecember 29, 2022

The GST, or the Goods and Service Tax, is a new indirect tax system implemented in India on 1st July 2017. It has replaced all the other indirect taxes levied on goods and services. Under this new system, there is a single tax on the supply of goods and services right from the manufacturer to the consumer. The GST is payable by the registered taxable person at each stage of the sale or purchase of goods or services. The amount of tax to be paid is calculated based on the GST rate applicable to the transaction value. 

The GST is levied at different rates depending on the nature of the goods or services. The GST rate maybe 0%, 5%, 12%, 18% or 28%. In some cases, an additional cess may be levied on top of the 28% GST. Under the GST regime, businesses must register themselves with the GST authorities. Businesses must also file monthly or quarterly returns depending on their turnover. The GST returns must be filed electronically through the GST portal. Payment of GST can be made online through the portal using a credit card, debit card, or net banking facility.

GST Online Payment Procedure in India

The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. The GST was introduced by the Indian government and is administered by the Central Board of Excise and Customs (CBEC). The GST is a destination-based tax levied on the consumption of goods and services in India. The GST is levied at different rates for different commodities and services. The rate of GST for each commodity or service is decided by the GST Council, headed by the Finance Minister of India. Under the GST regime, all registered businesses are required to file monthly returns and make online payments. The procedure for making GST online payment is as follows:

  • Register on the GST Portal: All businesses that are required to pay GST must first register on the GST Portal. To register, businesses must submit their PAN number, contact details, bank account details, etc. After successful submission of documents, you will get an application reference number (ARN), and users can also check ARN status for GST online via official website.
  • Login to the portal: Once registered, businesses can log in to the portal using their user ID and password.
  • Select return filing period: Businesses need to select the return filing period for which they want to make the payment. The return filing periods are monthly, quarterly, or annual.
  • Fill in return form: Businesses need to fill in the relevant details in the return form, such as turnover, taxes payable, etc. 
  • Make online payment: After filling return form, businesses or an individual can make online payment of tax amount using Debit Card, Credit Card or Net Banking. 

The tax payer can also avail of the facility of e-challan, which allows him to make payments through cash or demand draft. The GST Portal also provides the facility of viewing and printing the receipt of the payment. Thus, GST online payment is an easy and convenient way to pay taxes in India.

Benefits of GST online payment

  • Simplified Process

One of the major benefits of making an GST online payment is that it simplifies the entire process of paying taxes. It also helps keep track of all the GST payments made by businesses and other entities.

  • Reduces the compliance burden 

Another big benefit of making an GST online payment is that it reduces the compliance burden on businesses. Businesses no longer need to file separate returns for each state where they have a presence. This makes it much easier for businesses to comply with the GST rules and regulations.

  • Reduces the chances of errors 

GST online payment also help in reducing the chances of errors and mistakes during tax filing. This is because all the relevant information about the tax payment is stored electronically in a centralized system. This reduces the probability of manual errors during tax filing.

  • Save Time and money

GST online payment helps in saving time and money. Businesses no longer need to invest in maintaining physical records or files related to their tax payment history. This ultimately leads to reduced administrative costs for businesses. You can easily check your ARN status for GST with the help of a unique application reference number. 

The GST portal also allows taxpayers to track their payments and view their GST returns. This makes the GST online payment procedure in India a hassle-free process.

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