Each enrolled taxpayer should pay their taxes by 20th of a month. How about we take a case where a business is documenting GST returns for May amid the long stretch of June. All things considered, it should record every one of the profits and make impose installments by 20th of June.

On the off chance that the taxpayer did not pay the duty due by 20th, an enthusiasm on the assessment due will connected. Also, they can’t record the expense forms for the following detailing time frame.

Overseeing ITC and GST payable

The GST entryway has given the accompanying records to encourage and oversee GST installments.

Tax Liability Ledger
The taxpayer would get all the data with respect to GST payable, punishment, late charge, and so forth.

ITC Ledger
This record holds a record of Input assess credit given to a taxpayer. The ITC is credited after the approval of submitted exchanges in the GSTR-2. The ITC credited must be balanced with the GST payable and not with late expense or punishment.

Cash Ledger
All payments made by the taxpayer will be recorded under the money record. This incorporates charge installments, punishment, intrigue sum, and so on.

Payment Options

GST entry has various alternatives through which you can make impose payments:

Generating Challan
One way of paying taxes is through producing an electronic challan from the GST portal. on the way to try this, the tax payer must deposit the amount inside the coins ledger of the GST portal. After adding cash, they may have to generate the challan by way of filling the form GST PMT-06. The challan generated can be valid for a duration of 15 days.

Over the Counter Payments
over the counter (OTC) bills may be made if the GST payable is much less than Rs. 10,000. the amount may be paid in coins, cheque, or call for Draft (DD). amounts exceeding Rs.10,000 need to be paid the usage of one of the below alternatives.

Making payment via cards/NEFT
any other mode is payment include acting on-line payment the usage of:

  • NEFT transfer
  • Credit and Debit Cards
  • RTGS

A Challan identity number or CIN will be issued upon making the tax fee. this could act as a reference number for the charge.

Counterbalancing ITC with GST Payable

in case you’ve obtained enter tax credit score, you can offset it with the GST payable and pay the balance quantity to the tax branch.

Refund under GST

Refund beneath GST can be claimed below following cases:

  • if you have unused enter tax credit score
  • credit accumulation due to output being tax exempt or nil-rated.
  • excess fee made with the aid of mistake
  • Export of products and services
  • Refund of tax bills made by UN bodies, embassies, para-army pressure canteens, and so on.

Refunds filed underneath any of the above cases might be calculated by means of the GST portal for each form of tax: SGST, CGST, and IGST. if you’ve paid excess amount for GST, or want to assert refund, you will must fill out an digital shape from the GST portal. The portal could affirm the claim and refund the excess quantity. The processing time for the refund utility should range from two weeks to as long as sixty days.


Tax defaulters could be subjected to the caution, followed by a penalty. consequences below GST may be classified underneath classes:

  1. If a taxpayer is observed of committing fraud or is evading taxation, they may be charged a penalty amount of tax refrained from/short deducted etc., i.e., 100% penalty, or at the very least Rs. 10,000.
  2. If a taxpayer has now not paid GST or makes brief bills, they’ll be charged a penalty of 10% of the tax quantity or at least Rs. 10,000.