PAYMENT OF TAX AND OTHER DUES [GOODS AND SERVICES TAX ACT, 2017 (GST ACT, 2017)]

Electronic Liability Register

1. All labilities Le tax, interest if any, penalty if any imposed and other dues (late fee etc) under GST law are required to be recorded in Electronic Liability Register to be maintained by every registered assessee [Refer Section 497) of CGST Act)
2. The electronic liability register shall be maintained in FORM GST PMT-01 on the common GST portal (www.gst gov.in).
3. Electronic Liability register shall be debited with all liabilities of registered person under GST law 
4. These liabilities could be in terms of returns submitted by him or could be in terms of any order of adjudication passed against him or any amount arising out of mismatch of invoices
5. Electronic Liability Register is also required to be maintained by persons liable to deduction or collection of Tax at source or by persons working under composition scheme also in same manner.
6. When this liability is discharged or same is reduced in appeal, Electronic Liability register would be credited accordingly by making suitable debit entries in the Electronic Cash Register or Electronic Credit Register.
7. Part II of Electronic Liability Register shall contain liabilities other than return related liabilities 
8. In case any discrepancy is noticed in Electronic Liability Ledger, the registered person shall communicate the same to the proper officer in FORM GST PMT-04

 
Electronic Cash Register and payment by Challan

1. A person making bank deposit of any tax, interest, penalty, fee or any other amount shall maintain an Electronic Cash Ledger in FORM GST PMT 05
2. The amount deposited will be credited in the Electronic Liability Ledger
3. The liability towards tax, interest, penalty, fee or any other amount will be debited in Electronic Liability ledger.
4. For depositing the amount a challan in FORM GST PMT-06 can either be generated by the concerned person or by any other person on his behalf in the Common GST Portal.
5. For each challan, a Challan Identification Number (CIN) shall be generated which will be indicated in challan.
6. This challan shall be valid for 15 days for making payments
7. In case the person making the payments is not registered, a temporary identification number can be generated by him.
8. The credit in Electronic Cash Ledger can be taken only when collecting bank issues Challan Identification Number (CIN).
9. In case where Bank account of the concerned person has been debited but to CIN is generated, a representation under FORM GST PMT 07 can be made to the concerned Bank or electronic gateway. 
10. Person liable to deduct or collect tax at source is also required to maintain Electronic Liability Ledger. 
11. A registered person shall, upon noticing any discrepancy in his electronic cash ledger, communicate the same to the officer exercising jurisdiction in the matter, through the common GST portal in FORM GST PMT-04. 

Mode of making deposits

• Internet Banking through authorized banks
• Credit card or Debit card through the authorised bank.
• National Electronic Fund Transfer (NeFT) or Real Time Gross Settlement (RTCS) from any bank.
• Over the Counter payment (OTC) through authorized banks for deposits up to ten thousand rupees per challan per tax period, by cash, cheque or demand draft.
• The restriction for deposit up to ten thousand rupees per challan in case of an OTC payment shall not apply to deposit to be made by Government Departments.
• This restriction will also not be applicable to deposit to be made by persons as may be notified by the Commissioner in this behalf and to proper officer or any other officer authorised to recover outstanding due.
• Where the payment is made by way of NeFT or RTGS mode from any bank, the mandate form shall be generated along with the challan on the Common GST Portal and the same shall be submitted to the bank from where the payment is made.
• The mandate form shall be valid for a period of 15 days from the date of generation of challan.

 
Electronic Credit Ledger

1. Every registered person taking ITC credit of GST paid on inputs or input services is required to maintain this ledger in FORM GST PMT-02 on the common GST portal.
2. Every claim of input tax credit under GST law shall be credited to the said Ledger.
3. When the prescribed liability is discharged, suitable debit entry would be made in the ledger.
4. The ledger will also be debited suitably where any refund of any unutilized amount of this Ledger is claimed.
5. If the refund is rejected fully or partially, the amount to the extent of such rejection can be taken re-credit.
6. Responsibility is cast upon registered person to communicate to the concerned officer in
7. FORM GST PMT-04 if any discrepancy is noticed in his Electronic Credit Ledger.

 

Utilization of Electronic Credit Ledger

1. Integrated tax shall first be utilised towards the payment of Integrated Tax and the amount remaining, if any, may be utilised towards the payment of Central Tax and State Tax, or as the case may be, Union Territory tax, in that order.
2. The Central Tax shall first be utilised towards payment of Central Tax and the amount remaining of any may be utilised towards the payment of Integrated Tax.
3. The State Tax shall first be utilised towards payment of State Tax and the amount remaining, if any, may be utilised towards payment of Integrated Tax.
4. The Union Territory Tax shall first be utilised towards payment of Union Territory Tax and the amount remaining, if any, may be utilised towards payment of Integrated Tax.
5. The Central Tax shall not be utilised towards payment of State Tax or Union Territory Tax, and the State Tax or Union Territory Tax shall not be utilised towards payment of Central Tax.

 

Identification number for each transaction

• Unique Identification Number (UIN) shall be generated at the Common GST Portal for each debit or credit to the electronic cash or credit ledger, as the case may be.
• This number relating to discharge of any liability shall be indicated in the corresponding entry in the Electronic Liability Register.
• A Unique Identification Number (UIN) shall be generated at the Common GST Portal for each credit in the Electronic Liability Register for other reasons.

 

Order of discharge of liability

• Firstly self-assessed tax, and other dues related to returns of previous tax periods will stand discharged.
• Then it would self-assessed tax, and other dues related to the return of the current tax period.
• Lastly any other amount payable under CGST Act or the rules made thereunder including the demand determined under Section 73 or Section 74 of the CGST Act.

 
Interest on delayed payment of tax

• Interest liability is at the rate 18% in case assessee fails to pay the tax or any part thereof to the Government within the period prescribed.
• In case of excess claim of ITC or excess reduction of output tax liability said rate of interest is 24%.
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