GST Tax Payment Forms Details

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GST is the path breaking indirect tax reforms that will create the common national market by demolishing inter-state trade barriers. The GST has subsumed for several indirect taxes as excise duty, service, luxury, entertainment, entry taxes and more. All the payments that are made through the net banking or OTC or debit card are reflected in the electronic cash ledger of the registered person. A challan also generated on the common portal for payment or deposit of tax under the GST form.

GST Tax Payment Forms

GST Payment Form 1 – Electronic Liability Ledger

It shows the total tax liability of the taxpayer for the particular month will show. In this ledger will automatically display on the GST Tax payers dashboard. The rule of E-Ledger will help taxpayers ascertain their tax liability status of input tax credit available, eligible refund amount and more will help them and manage their finances better.

GST Payment Form 2 – Electronic Credit Ledger

Every registered taxable person has required maintaining E- Credit Ledger in GST FORM PMT – 2 on GST portal. It is the input tax credit which is self-assessed in the monthly returns will reflect under three categories as CGST, IGST and SGST. The taxpayer will able to utilize the balance shown in this accounts only for payments of tax as per the credit utilization rules and no other amount as penalty, interest, fees and more.

GST Payment Form 3 – Electronic Cash Ledger

E-Cash Ledger is another account that every registered taxable person under GST law has required maintain in GST FORM PMT – 3on GST common portal. This form is used for crediting the amount deposited and debiting the payment from toward tax, interest, penalty fee or any other amount. This ledger can be used for making payment on account of GST.

GST Payment Form 4 – Application for intimation of discrepancy in Electronic Credit Ledger or Cash Ledger or Liability Register

Every registered taxable person has required maintaining E- Credit Ledger in GST FORM PMT – 4 on GST common portal. A registered person shall upon the noticing any discrepancy in his electronic credit ledger and communicate the same to the officer exercising jurisdiction in the matter

GST Payment Form 5 – Application for intimating discrepancy in making payment

It is the intimating discrepancy in making payment, where the bank account of the person concerned making the deposit on his behalf is debited but no challan identification number is generated but not communicated to the common portal.

GST Payment Form 6 – Challan for Deposit of Goods and Services Tax

A registered taxable person or any other person on his behalf shall generate the challan in GST FORM PMT – 4 on the Common Portal. Then enter the details of the amount to deposit by them towards tax, interest, penalty, fees or any other amount. In this Challan will generate at the Common Portal shall be valid for a period of fifteen days.