GST
GST payment modes: net banking, UPI, card, NEFT and counter
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Facts
Yes. GST can be paid by net banking, BHIM UPI and credit or debit card, by NEFT or RTGS from any bank, or over the counter at authorised banks. Over-the-counter payment is limited to Rs 10,000 per tax period.
Provisions and law
- Rule 87, CGST Rules 2017Electronic cash ledger in PMT-05, challan PMT-06 valid for 15 days, payment modes, CIN, PMT-07 for failed credits and PMT-09 transfers
Analysis
Choose the mode while generating the challan. Example: a freelancer paying Rs 8,000 can use UPI. A company paying Rs 5 lakh may use net banking or RTGS. For NEFT or RTGS, you download the mandate form and pay from your bank; the credit reaches the cash ledger after the bank reports it. Cards may carry charges set by the card network or gateway.
Conclusion
- Choose the mode at challan creation
- For UPI or card, pay through the gateway
- For NEFT or RTGS, take the mandate form to your bank or use online banking
- For over-the-counter, keep the amount within Rs 10,000 per tax period
- Check the cash ledger after payment
A Savvy can do this for you
GST payment challan, PMT-06
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