Proposed Payment Process
GST
Dated:- 19-12-2015
PROPOSED PAYMENT PROCESS
PRESENTATION PLAN
* Broad Features
* Tax Types & Modes of Payment
* Stakeholders
* Basic Features
* Workflow for Payment under various Modes
* Features of Accounting Process
* Proposed Accounting system
* Banking arrangements
* Reconciliation of receipts
* Redressal of grievances
BROAD FEATURES
* Electronic payment process- no generation of paper at any stage
* Single point interface for challan generation- GSTN
* Ease of payment three modes including CC/DC & NEFT/RTGS
* Common challan form with auto-population features
* Use of single challan and single payment instrument
* Common set of authorized banks
* Payment through any bank
* Common Accounting Codes
TAX TYPES & MODES OF PAYMENT
* Under GST, 4 types
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tronically generated Challan from GSTN for all 3 modes containing a unique 14-digit Common Portal Identification Number (CPIN) for each challan
* Challan can be generated by
* Taxpayer
* His authorized representative
* Departmental officers
* Any other person paying on behalf of taxpayer
* Certain key details like name, address, email, GSTIN of payer to be auto-populated
* Single challan / instrument for payment of all four types of taxes
* Challan once generated to be valid for 7 days
* Time of payment: from 0000 hrs. to 2000 hrs.
* Proposed workflow of RBI's e-Kuber model to be followed for payment, accounting and reconciliation:
* Accounting Authorities to interact directly with RBI & not with Authorized banks in case of discrepancies found during reconciliation
* System of electronic Personal Ledger Account (cash ledger) on GSTN for each taxpayer
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* Alongside, GSTN to forward an electronic string to the selected bank carrying specified details of challan on real time basis
* Taxpayer to make payment using the USER ID & Password provided by his bank
* On successful completion of transaction, e-FPB of bank to forward a confirmation electronic string (CIN) to GSTN on real time basis
* GSTN to credit the Taxpayer's ledger
* Copy of paid Challan to be available on GSTN for taxpayer (downloadable/printable)
WORK FLOW FOR PAYMENT UNDER MODE -II ….
Over the Counter Payment:
* For small taxpayers for making payment upto Rs. 10,000/- per challan – by cash / DD / cheque drawn on same bank or on another bank in the same city
* Tax payer to tender only one instrument to pay one or more type of tax
* For cheque payment, name of authorized bank & its location to be mandatorily filled in challan
* On real time basis, GSTN to share challan details with Core Banking System (CBS) of the selected authorized B
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of BTR / BTN
* GSTN to credit the Taxpayer's Ledger
WORK FLOW FOR PAYMENT UNDER MODE -III….
Payment through NEFT/RTGS from any bank
* To be made operational after a pilot run by RBI
* For taxpayers:
* not having a bank account in any of the Authorized Banks
* having a bank account in any of the Authorized Banks
* No limit on amount to be paid through this mode
* Payments to be collected by RBI directly
* RBI to perform the role of e-FPB also
* Challan and NEFT/RTGS mandate form generated on GSTN
* NEFT/RTGS mandate form to have validity period of CPIN printed on it
* In challan, the field for name of Authorized Bank to be auto-populated as RBI
* NEFT/RTGS mandate form will have certain information auto-populated:
* CPIN in “Account Name” field
* 'GST Payment' in “Sender to Receiver Information” field
* Taxpayer to print a copy of Challan and NEFT/RTGS mandate for
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s
* RBI to send digitally signed one e-scroll for each type of Tax (CGST, IGST, AT & SGST) per day (39) to Accounting Authorities of Central Government and State Governments & GSTN on T+1 basis
* GSTN to send reconciled data (challan data from Authorized Banks and e-scroll from RBI) to Accounting Authorities at EOD
* For any discrepancy noticed, accounting authority to generate a Memorandum of Error (MOE) & send to RBI
* RBI to resolve the discrepancy in consultation with the Authorized Bank
* RBI to report the corrected data to respective Accounting Authority & GSTN
* Taxpayers Master data to be provided by Tax Authorities to Accounting Authorities for mapping of payment details jurisdiction wise
PROPOSED ACCOUNTING SYSTEM
* Four different Major Heads of accounts to be opened for each tax along with underlying Minor Heads to account for various taxes & other recei
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of only system generated challans – no re-digitization by any actor in the entire work flow
* CPIN to be generated by GSTN to be used as a key identifier up till receipt of payment by Bank
* CIN (actual indicator of receipt of payment) to be generated by collecting Bank to be used as a key identifier thereafter for accounting, reconciliation, etc.
* Accounting Authorities to play a paramount role in reconciliation –
* Accounting on the basis of RBI data
* Reconciliation on the basis of GSTN and bank data
GRIEVANCE REDRESSAL
* In OTC mode if cash ledger of taxpayer not credited within three days- approach bank where instrument presented
* In RTGS/NEFT mode if cash ledger of taxpayer not credited within three days- approach bank where taxpayer's account is
* Each e-FPB required to have front end service branch to resolve payment related issues
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Document 1PAYMENT IN E-MODE
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