1. How can tax payments be made under GST?

Ans. Under GST tax payment is easy and can be done first by using the input tax credit available. The payment can also be done in cash through all modes available like e-payment through net-banking, credit card and debit card, over the counter of banks, RTGS or NEFT.

2. When is payment of taxes to be made by the Supplier under GST?

Ans. Although the taxpayer can deposit cash anytime in the electronic cash ledger but the payment of taxes by the normal tax payer is to be done on monthly basis by the 20th of the succeeding month at the time of filing of Return. Cash payments will be first credited in the electronic Cash Ledger and the tax payer shall debit the ledger while making payment in the monthly returns and shall reflect the relevant debit entry number in his Return. For example, payment of taxes for the month of July, 2017 shall be made by the 20th of August, 2017. Composition tax payers are required to pay tax on quarterly basis.

3. What is the last date by which GST is to be paid for a particular supply?

Ans. If a supply is undertaken in a particular month, the GST in respect of that supply has to be paid by the 20th of the succeeding month. GST can be paid either in cash or using the credit balance in the ITC ledger.

4. Can traders get the credit of IGST paid at the time of imports for discharging their domestic liabilities under GST? If yes, how?

Ans. Yes. Under GST, traders will be on par with manufacturers. IGST paid at the time of import will be available as credit which can be used for payment of taxes on further supplies.

GSTIN would be used for the purpose of credit flow of IGST on import of goods and refund of IGST paid in case of export.

5. Is GST payable upon receipt of Advance?

Ans: When Advance is received, Receipt Voucher should be issued with details as specified in Rule 5 of Invoice Rules. At that stage, GST is payable but recipient cannot avail input tax credit as goods or services or both have not been received by him.

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November 2020