Author: admin_gst

How will the TDS Deductor account for such TDS?
Question 25
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 25. How will the TDS Deductor account for such TDS?
Ans. TDS Deductor will account for such TDS in the following ways:
1. Such deductors needs to get compulsorily registered under section 24 of the CGST/SGST Act.
2. They need to remit such TDS collected by the 10th day of the month succeeding the month in which TDS was collected and reported in GS

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

How will the Supplier account for this TDS? while filing his return?
Question 24
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 24. How will the Supplier account for this TDS? while filing his return?
Ans. Any amount shown as TDS will be reflected in the electronic cash ledger of the concerned supplier. He can utilize this amount towards discharging his liability towards tax, interest fees and any other amount.
–
Statute, statutory provisions legislat

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is TDS?
Question 23
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 23. What is TDS?
Ans. TDS stands for Tax Deducted at Source (TDS). As per section 51, this provision is meant for Government and Government undertakings and other notified entities making contractual payments where total value of such supply under a contract exceeds ₹ 2.5 Lakhs to suppliers. While making any payments under such contracts, the concerned Government/authority shall

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is an E-FPB?
Question 22
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
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 on

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What does the expression “Other dues” referred to above mean?
Question 21
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 21. What does the expression “Other d

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is the sequence of payment of tax where that taxpayer has liabilities for previous months also?
Question 20
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 20. What is the sequence of payment of tax where that taxpayer has liabilities for previous months also?
Ans. Section 49(8) prescribes an order of payment where the taxpayer has tax liability beyond the current return period. In such a situation, the order of payment to be followed is: First self-as

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is a CIN and what is its relevance?
Question 19
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 19. What is a CIN and what is its relevance?
Ans. CIN stands for Challan Identification Number. It is a 17-digit number that is 14-digit CPIN plus 3-digit Bank Code. CIN is generated by the authorized banks/ Reserve Bank of India (RBI) when payment is actually received by such authorized banks or RBI and credited in the relevant government account held with

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is a CPIN?
Question 18
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 18. What is a CPIN?
Ans. CPIN stands for Common Portal Identification Number (CPIN) gi

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Is there a validity period of challan?
Question 17
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 17. Is there a validity period of challan?
Ans. Yes, a challan

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Can a challan generated online be modified?
Question 16
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
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 taxpaye

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Can a tax payer generate challan in multiple sittings?
Question 15
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 15. Can a tax payer generate challan in multiple sittings?
Ans. Yes, a taxpayer can partially 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.

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is the linkage between GSTN and the authorized Banks?
Question 14
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 14. What is the linkage between GSTN and the authorized Banks?
Ans. There will be real time two-way linkage between the GSTN and the Core Banking Solution (CBS) of the Bank. CPIN is automatically routed to the Bank via electronic string for verification and receiving payment and a challan identification number (CIN) is automatically sent by

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is an ITC Ledger?
Question 13
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 13. What is an ITC Ledger?
Ans. Input Tax Credit as self-assessed in monthly r

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is a Cash Ledger?
Question 12
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 12. What is a Cash Ledger?
Ans. The cash ledger will reflect all deposits made

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is a tax liability register?
Question 11
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 11. What is a tax liability register?
Ans. Tax Liability Register w

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What are E-Ledgers?
Question 10
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
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 Portal (GSTN), two e-ledgers (Cash &Input Tax Credit ledger) and an electronic tax liability register will be autom

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

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?
Question 9
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
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.

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What happens if the taxable person files the return but does not make payment of tax?
Question 8
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 8. What happens if the taxable person files the return but does not make payment of tax?
Ans. In such cases, the return is not considered as a valid return. Section 2(117) defines a valid return to mean a return furnished under sub-section (1) of section 39 on which self-assessed tax has been paid in full. It is on

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Whether time limit for payment of tax can be extended or paid in monthly installments?
Question 7
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 7. Whether time limit for payment of tax can be extended or paid in monthly installments?
Ans. No, this is not permitted in case of self-assessed liability. In other cases, competent authority has been empowered to extend the time period or allow payment in instalments. (Section 80 of the CGST/SGST Act).
–
St

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

When is payment of taxes to be made by the Supplier?
Question 6
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 6. When is payment of taxes to be made by the Supplier?
Ans. Payment of taxes by the normal tax payer is to be done on monthly basis by the 20th of the succeeding month. Cash payments will be first deposited in the Cash Ledger and the tax payer shall debit the ledger while making payment in the monthly returns and shall reflect the relevant debit

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

How can payment be done?
Question 5
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 5. How can payment be done?
Ans. Payment can 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 payme

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What are the main features of GST payment process?
Question 4
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 4. What are the main features of GST payment process?
Ans. The payment processes under GST Act(s) have the following features:
• Electronically generated challan from GSTN Common Portal in all modes of payment and no use of manually prepared challan;
• Facilitation for the tax payer by providing hassle free, anytime, anywhere mode of pa

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

When does liability to pay GST arises?
Question 3
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 3. When does liability to pay GST arises?
Ans. Liability to pay arises at the time of supply of Goods as explained in Section 12 and at the time of supply of services as explained in Section13.
The time is generally the earliest of one of the three events, namely receiving payment, issuance of invoice or completion of supply. Different situations envisaged and

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Who is liable to pay GST?
Question 2
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
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 operato

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What are the Payments to be made in GST regime?
Question 1
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
7. GST Payment of Tax
Q 1. What are the Payments to be made in GST regime?
Ans. In the GST regime, for any intra-state supply, taxes to be paid are the Central GST (CGST), going into the account of the Central Government) and the State/UT GST (SGST, going into the account of the concerned State Government). For any inter-state supply, tax to be paid is

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =