Page 4 - Ch9_POT & TDS-TCS
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PAYMENT OF TAX
General Questions
01. Introduction to Payments made under GST
CCP 09.01.01.00
What are the payments to be made in GST regime?
Answer:
Under GST regime, following payments are to be made:-
Ü In case of Intra-state supply- CGST & SGST/UTGST are to be paid to Central Government and State
Government/ Union Territory Account respectively.
Ü In case of Inter-state supply, IGST is to be paid to Central Government Account.
Ü In addition to these above taxes, Cess, TDS, TCS, Interest, penalty, fees and other additional payments are
to made, whenever applicable.
CCP 09.01.02.00
What are the main features of GST payment process? [Study Mat]
Answer:
The main features of GST payment process are as follows:-
a) Electronically generated challan from GSTN common portal in all modes of payment and no use of
manually prepared challan,
b) Facilitation for the tax payer by providing hassle free, anytime, anywhere mode of payment of tax,
c) Convenience of making payment online,
d) Real time data for tax collection in electronic format,
e) Faster remittance of tax revenue to the Government Account,
f) Paperless transactions,
g) Speedy Accounting and reporting,
h) Electronic reconciliation of all receipts,
i) Simplified procedure for banks,
j) Warehousing of Digital Challan.
CCP 09.01.03.00
List out the benefits of the new payment system of GST available to the taxpayer and the GST
Department. [CA IPC Dec 21 Exam]
Answer:
Benefits of the payment system of GST available to the taxpayer and the GST Department:
Benefits to Taxpayer:
Ü No more queues and waiting for making payments as payments can be made online 24 X 7.
Ü Electronically generated challan from GSTN common portal in all modes of payment and no use of
manually prepared challan. Paperless transactions.
Ü Instant online receipts for payments made online.
Ü Tax consultants can make payments on behalf of the clients.
Ü Single challan form to be created online, replacing the three or four copy Challan.
Ü Greater transparency.
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