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From Cash to E-Payments: Exploring the Evolution of GST Payment Modes
Updated on : March 21, 2023 - 3 p.m. 17 min read.
GST Payment Modes
Goods and Services Tax (GST) is a comprehensive tax system introduced by the Indian government to replace various indirect taxes levied on goods and services. GST has simplified the tax structure of India and has made it easier for taxpayers to file returns and make payments.
In this blog, we will discuss the different modes of GST payment step by step.
Electronic Payment through Internet Banking:
This is the most convenient and popular mode of GST payment. Taxpayers can make GST payments through the internet banking facility of authorized banks. To make GST payments through this mode, taxpayers need to log in to their bank’s net banking portal, select the “GST payment” option, and enter the required details. Following are the steps to file the gst.
Step 1: Visit the GST portal (www.gst.gov.in) and log in using your credentials.
Step 2: Select the “Services” tab and then click on “Payments”.
Step 3: Select the “Create Challan” option and enter the necessary details such as GSTIN, tax period, tax type, etc.
Step 4: Enter the amount to be paid and select the mode of payment as “Internet Banking”.
Step 5: Select your bank from the list of authorized banks and click on “Generate Challan”.
Step 6: You will be redirected to your bank’s net banking portal. Log in to your net banking account and complete the payment.
Payment through Debit/Credit Card:
Taxpayers can also make GST payments through their debit/credit cards. This mode of payment is useful for those who do not have access to internet banking. To make GST payments through this mode, taxpayers need to select the “Pay by Debit/Credit card” option on the GST portal and follow the instructions. Following are the steps to file the gst.
Step 1: Visit the GST portal (www.gst.gov.in) and log in using your credentials.
Step 2: Select the “Services” tab and then click on “Payments”.
Step 3: Select the “Create Challan” option and enter the necessary details such as GSTIN, tax period, tax type, etc.
Step 4: Enter the amount to be paid and select the mode of payment as “Debit/Credit Card”.
Step 5: Enter your card details and click on “Make Payment”.
Step 6: Once the payment is successful, you will receive a confirmation message.
Over-the-Counter Payment:
Taxpayers can also make GST payments by visiting authorized banks and making over-the-counter payments. This mode of payment is useful for those who do not have access to internet banking or debit/credit cards. To make GST payments through this mode, taxpayers need to visit the authorized bank, fill in the Challan, and make the payment. Following are the steps to file the gst.
Step 1: Visit the GST portal (www.gst.gov.in) and log in using your credentials.
Step 2: Select the “Services” tab and then click on “Payments”.
Step 3: Select the “Create Challan” option and enter the necessary details such as GSTIN, tax period, tax type, etc.
Step 4: Enter the amount to be paid and select the mode of payment as “Over the Counter”. Step 5: Take a printout of the Challan and visit the authorized bank to make the payment.
Step 6: Fill in the Challan details and make the payment at the bank counter.
Payment through NEFT/RTGS:
National Electronic Fund Transfer (NEFT) and Real-Time Gross Settlement (RTGS) are other modes of GST payment. Taxpayers can make GST payments through NEFT/RTGS by using their bank’s net banking facility. To make GST payments through this mode, taxpayers need to add the GST payment details as a beneficiary and then transfer the amount using NEFT/RTGS. Following are the steps to file the gst through NEFT/RTGS.
Step 1: Visit the GST portal (www.gst.gov.in) and log in using your credentials.
Step 2: Select the “Services” tab and then click on “Payments”.
Step 3: Select the “Create Challan” option and enter the necessary details such as GSTIN, tax period, tax type, etc.
Step 4: Enter the amount to be paid and select the mode of payment as “NEFT/RTGS”.
Step 5: Note down the bank details of the authorized bank and add them as a beneficiary in your net banking account.
Step 6: Transfer the amount through NEFT/RTGS to the authorized bank.
Payment through Mobile Wallets:
Taxpayers can also make GST payments through mobile wallets such as Paytm, Mobikwik, etc. This mode of payment is useful for those who do not have access to internet banking or debit/credit cards. To make GST payments through this mode, taxpayers need to select the “Pay through Mobile Wallet” option on the GST portal and follow the instructions. Following are the steps to file the gst through Mobile Wallets.
Step 1: Visit the GST portal (www.gst.gov.in) and log in using your credentials.
Step 2: Select the “Services” tab and then click on “Payments”.
Step 3: Select the “Create Challan” option and enter the necessary details such as GSTIN, tax period, tax type, etc.
Step 4: Enter the amount to be paid and select the mode of payment as “Mobile Wallet”.
Step 5: Select the mobile wallet from the list of available wallets and follow the instructions to complete the payment process.
Step 6: Once the payment is successful, you will receive a confirmation message.
Payment through UPI:
Unified Payment Interface (UPI) is another mode of GST payment. Taxpayers can make GST payments through UPI by using their UPI ID. To make GST payments through this mode, taxpayers need to select the “Pay through UPI” option on the GST portal and follow the instructions. Following are the steps to file the gst through UPI.
Step 1: Visit the GST portal (www.gst.gov.in) and log in using your credentials.
Step 2: Select the “Services” tab and then click on “Payments”.
Step 3: Select the “Create Challan” option and enter the necessary details such as GSTIN, tax period, tax type, etc.
Step 4: Enter the amount to be paid and select the mode of payment as “UPI”.
Step 5: Enter your UPI ID and click on “Make Payment”.
Step 6: Once the payment is successful, you will receive a confirmation message.
Payment through EMI:
GST payment through EMI is a payment option available to taxpayers with an annual GST liability of more than Rs. 1 crore, where they can pay their GST liability in installments over a period of time. Taxpayers should ensure they meet the eligibility criteria and make timely payments to avoid penalties and interest charges. Following are the steps to file the gst through EMI.
Step 1: Visit the GST portal (www.gst.gov.in) and log in using your credentials.
Step 2: Select the “Services” tab and then click on “Payments”.
Step 3: Select the “Create Challan” option and enter the necessary details such as GSTIN, tax period, tax type, etc.
Step 4: Enter the amount to be paid and select the mode of payment as “EMI”.
Step 5: Select the EMI option from the list of available options and complete the payment process.
Step 6: Once the payment is successful, you will receive a confirmation message.
Payment through Cash/Cheque:
GST payment through cash or cheque is a payment method in which taxpayers can pay their GST liability using cash or cheque at authorized GST payment centers. Taxpayers can make the payment by filling out a challan form and submitting it along with the payment at the authorized payment center. Following are the steps to file the gst through cash/cheque.
Step 1: Visit the GST portal (www.gst.gov.in) and log in using your credentials.
Step 2: Select the “Services” tab and then click on “Payments”.
Step 3: Select the “Create Challan” option and enter the necessary details such as GSTIN, tax period, tax type, etc.
Step 4: Enter the amount to be paid and select the mode of payment as “Cash/Cheque”.
Step 5: Take a printout of the Challan and visit the authorized bank to make the payment.
Step 6: Fill in the Challan details and make the payment through cash or cheque at the bank counter.
In conclusion, GST has simplified the tax structure of India and has made it easier for taxpayers to make payments. The above-mentioned modes of payment provide flexibility and convenience to taxpayers to make payments as per their convenience. However, taxpayers need to ensure that they choose the correct mode of payment and complete the payment process within the due date to avoid any penalties or interest charges.
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