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TMI BlogGST Payment of TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... t, Penalty, Fees and any other payment will also be required to be made. Q 2. Who is liable to pay GST? Ans. In general, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism. Further, in some notified cases of intra-state supply of services, the liability to pay GST may be cast on e-commerce operators through which such services are supplied. Also Government Departments making payments to vendors above a specified limit [2.5 lakh under one contract as per S.51(1)(d)] are required to deduct tax (TDS) and E-commerce operators are required to collect tax (TCS) on the net value [i.e. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n be done by the following methods: (i) Through debit of Credit Ledger of the tax payer maintained on the Common Portal ONLY Tax can be paid. Interest, Penalty and Fees cannot be paid by debit in the credit ledger. Tax payers shall be allowed to take credit of taxes paid on inputs (input tax credit) and utilize the same for payment of output tax. However, no input tax credit on account of CGST shall be utilized towards payment of SGST and vice versa. The credit of IGST would be permitted to be utilized for payment of IGST, CGST and SGST in that order. (ii) In cash by debit in the Cash Ledger of the tax payer maintained on the Common Portal. Money can be deposited in the Cash Ledger by different modes, namely, E-Payment (Intern ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing input tax credit (ITC) to the recipient. In other words, unless the supplier has paid the entire self-assessed tax and filed his return and the recipient has filed his return, the ITC of the recipient would not be confirmed. Q 9. Which date is considered as date of deposit of the tax dues Date of presentation of cheque or Date of payment or Date of credit of amount in the account of government? Ans. It is the date of credit to the Government account. Q 10. What are E-Ledgers? Ans. Electronic Ledgers or E-Ledgers are statements of cash and input tax credit in respect of each registered taxpayer. In addition, each taxpayer shall also have an electronic tax liability register. Once a taxpayer is registered on Common P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tially fill in the challan form and temporarily save the challan for completion at a later stage. A saved challan can be edited before finalization. After the tax payer has finalized the challan, he will generate the challan, for use of payment of taxes. The remitter will have option of printing the challan for his record. Q 16. Can a challan generated online be modified? Ans. No. After logging into GSTN portal for generation of challan, payment particulars have to be fed in by the tax payer or his authorized person. He can save the challan midway for future updation. However once the challan is finalized and CPIN generated, no further changes can be made to it by the taxpayer. Q 17. Is there a validity period of cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able including any confirmed demands under section 73 or 74. This sequence has to be mandatorily followed. Q 21. What does the expression Other dues referred to above mean? Ans. The expression other dues means interest, penalty, fee or any other amount payable under the Act or the rules made thereunder. Q 22. What is an E-FPB? Ans. E-FPB stands for Electronic Focal Point Branch. These are branches of authorized banks which are authorized to collect payment of GST. Each authorized bank will nominate only one branch as its E-FPB for pan India Transactions. The E-FPB will have to open accounts under each major head for all governments. Total 38 accounts (one each for CGST, IGST and one each for SGST for each State/U ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e supplier. 4. They need to issue certificate of such TDS to the deductee within 5 days of crediting the TDS to the govt a/c, failing which fees of ₹ 100 per day subject to maximum of ₹ 5000/- will be payable by such deductor. Q 26. What is Tax Collected at Source (TCS)? Ans. This provision is applicable only for E-Commerce Operator under section 52 of CGST/SGST Act. Every E-Commerce Operator, not being an agent, needs to withhold an amount calculated at the rate not exceeding one percent of the net value of taxable supplies made through it where the consideration with respect to such supplies is to be collected by the operator. Such withheld amount is to be deposited by such E-Commerce Operator to the appr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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