In India, tax payments have been promoted online by the Goods and Services Tax system. It is almost always vital to ensure the accuracy of every GST payment to prevent penalties and any compliance problems. This article will direct you on how to verify GST payment status and know its nitty-gritty.
Authorized banks offer both online and offline alternatives for paying GST. The taxpayer must generate a GST payment challan and log into their GST account before making a GST payment. Other articles address the procedure for generating a GST challan and paying the GST. This article outlines the process for tracking the status of GST payments on the GST portal. As it provides users with a comprehensive view of the whole transaction, tracking payments is crucial on different levels. Use the processes enumerated below to track the full payment. If the gain is not credited towards GST payment within 24-48 hours, a ticket for GST payment issues can be started.
Overview of GST Payment
GST payment refers to the process by which taxpayers remit their GST liabilities on the sale or purchase of goods and services. GST comprises an indirect tax that is charged at each point of purchase. Businesses gather GST from customers and remit it to the government through periodical payments. These payments must be finished either monthly or quarterly, based on the type of taxpayer.
Who Should Pay GST?
The specific categories of taxpayers must pay GST:
- General Taxpayers: Businesses with a turnover beyond the prescribed limit.
- Casual Taxable Persons: Individuals or businesses that sometimes supply goods or services in India.
- Composition Scheme Taxpayers: Small businesses that prefer a composition scheme and pay GST at a specified rate.
- Non-resident Taxable Persons: Non-residents providing goods or services in India.
Each taxpayer type pursues separate timelines and modes for GST payment.
GST Payment for Various Taxpayers
Various types of taxpayers observe separate payment schedules and methods:
- Normal Taxpayer: Regular taxpayers must pay GST monthly. They file GSTR-3B for recording summary particulars of outward supplies and input tax credits, followed by GSTR-1 for outward supplies.
- Taxpayers with Nil GST Returns: Taxpayers with nil sales or purchases during a fixed tax duration must still submit ‘nil’ returns to remain compliant.
- Quarterly Taxpayer (QRMP Scheme): Under the QRMP (Quarterly Return, Monthly Payment) scheme, small taxpayers can submit returns quarterly but are required to make monthly tax payments.
- Composition Scheme Taxpayers: Businesses that favor the composition scheme pay GST quarterly at a specified rate on their turnover and submit GSTR-4 yearly.
Steps to Track GST Payment Status Online before Logging in
Step 1 – Go to the GST portal.
To track payment, you do not need to login. On the Dashboard, visit the Services tab>>Payments>>Track Payment Status.
Step 2 – Key in your CPIN and GSTIN. Upon filling in these details, you will be prompted to enter the captcha code and proceed. Select ‘Track Status’.
The payment status is displayed as Paid or Not Paid.
Step 3 – The status of the challan gets shown for your further action.
Case 1: If the status is shown as ‘PAID’
- In this instance, the ‘View receipt’ button gets activated, as displayed below.
- The taxpayer can see and download the receipt after selecting the ‘View receipt’ button.
- You may choose the ‘Download’ button to download the receipt.
Case 2: If the status is shown as ‘NOT PAID’.
You can save an offline copy by choosing the ‘Download’ button.
Steps to Track GST Payment Status Online after Logging in
Step 1 – Log in to the GST portal.
Step 2 – Click on the ‘Services’ tab > ‘Payments’ section > “Challan History’ alternative.
Step 3 -Search by CPIN or by date
The list of challans and payment status gets shown.
Steps to Follow if GST Payment Fails
If the payment is ‘Failed / Not paid’ and the mode chosen is e-payment, then the taxpayer can select the ‘View Challan’ button, pick the proper bank, acknowledge the terms and conditions and choose ‘Make Payment’ in order to perform the payment again.
GST Payment Receipt and Its Importance
A GST payment receipt serves as evidence of one or multiple transactions and is essential for record upkeep as well as reference. You have to download and save the receipt after performing a payment for GST. Important details like the amount paid, date of payment, CPIN, and status of the transaction are provided in this receipt.
Here’s how you can achieve it:
- Log in to the GST Portal: Sign in utilizing your available account ID and password – Click on services > Returns > Returns dashboard
- Access payment history: Visit ‘Services’ > Click on Payments (left side menu) and then click on Payment History. In this segment, you will view a complete record of all your earlier GST payments.
- Download GST Payment Receipt: Locate the transaction for which you require the receipt and select the download alternative.
There are different reasons why you should retain a copy of your GST payment receipt:
- For Audit Purposes – You may be required to display evidence of payment for all your GST dealings in an audit. We could expedite the audit procedure for most instances if we had the necessary details in place to support it.
- Dispute Resolution – If there are any defects or disputes with the tax officials, this may serve as evidence for making payment of GST.
- Improved Financial Management – Efficient record-keeping of GST payments can assist in improved financial management.
GST Payment Receipt Download: A Step-by-Step Guide
This appears to be an easy step, but it is important for you since everything should have the fixture. Here’s how you can achieve it:
- Log In: Sign in to your GST account on the official portal.
- Go to Payment History: Select the link Payments and then choose Payment History.
- Look For The Transaction: Look for this entry on your payment. Users can look for the collection by date or CPIN and get a history listing in seconds.
- Receipt Download: You save yours by selecting the icon with the download you get next to your payment entry.
We recommend keeping this receipt as a formal record to confirm payment. When you obtain your receipt, inspect it against the record of what/how much money you handed over to prevent any problems in technology limbo further down the line.
Wrapping Up
Keeping track of your GST payment status is essential to ensure compliance and avoid penal actions. Knowing how to download GST payment receipts and examine CPIN, or resolve payment lapses, helps you navigate the GST payment process easily. Maintain your record up to date, and keep an eye on the payment feeder capacity to ensure friction-free and errorless dealings.
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