PAYMENT OF TAXES

Due date for payment of taxes

2

Format Return Type Return Filing due date Tax Payment due date

GSTR 1 Outward Supply 10th of next month No Tax Payment

GSTR 2 Inward Supply 15th of next month No Tax Payment

GSTR 3 Monthly Return 20th of next month On or before filing the return

GSTR 4 Compounding 18th of next month On or before filing the return

Dealers (Quarterly)
GSTR 5 Non Resident 20th of next month or < 7 On or before filing the return
Dealers days from expiry of Regn.
Whichever is earlier
GSTR 6 ISD 13th of next month No Tax Payment

GSTR 7 TDS 10th of next month On or before filing the return

GSTR 8 Annual Return 31st December of next FY On or before filing the return
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 Electronic Cash Ledger
3

 Any payment to be credited to Electronic Cash Ledger

 Maintained by the GST Portal
 Can be utilized for payment of tax, interest, penalty or fee payable
 Payment by internet banking, Cr / Dr Card, RTGS etc
 Over the counter for amount upto Rs 10,000
 Enforcement Cases – Departmental Officers can accept payments
 Date of payment – Date of credit to Govt Account
 17 Digit Challan – Challan Identification Number
 Generated by Payer, Departmental Officer, Authorized Represetative

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 Electronic Cash Ledger
4

 Sequence of Payment
 Self Assessed tax + Other dues of previous tax periods
 Self Assessed tax + Other dues of current tax period
 Other amounts including demand

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 Electronic Cash Ledger
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 Sequence of Payment
 Self Assessed tax + Other dues of previous tax periods
 Self Assessed tax + Other dues of current tax period
 Other amounts including demand
 Types of Payment
 Outward Supplies
 Inward Supplies liable under RCM
 TDS – Government / E-com operators
 Interest, Penalty etc

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 Electronic Cash Ledger
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 Sequence of Payment
 Self Assessed tax + Other dues of previous tax periods
 Self Assessed tax + Other dues of current tax period
 Other amounts including demand
 Types of Payment
 Outward Supplies
 Inward Supplies liable under RCM
 TDS – Government / E-com operators
 Interest, Penalty etc
 Payments to be bifurcated into CGST, SGST, Additional Tax,
IGST
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 Credit Matching
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10

Outward Supply
15

Accept
No
17 Accept / Reject
Delete Modify / NoInsert
Action
Action
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 Credit Mismatch
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 Credit claimed by the recipient allowed on provisional basis

 Mismatch of credits – to be accepted by the supplier
 Else, added to the output tax of the recipient
 To be paid with interest from the date credit is availed
 Reduced from output tax once the supplier accepts the liability
 Supplier to also remit differential taxes else the return is not valid
 Refund of interest not exceeding the interest paid by the supplier
 Interest Rates
 Regular interest rate in case of bona fide errors – Section 45(1)
 Penal interest rate in case of deliberate errors – Section 45(3)

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 Credit Mismatch
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Supplie Tax Uploaded Credit Action

r Charged Claimed
1 100,000 100,000 100,000 No Action
2 200,000 NIL 200,000 Change to be accepted by the
supplier
3 150,000 95,000 150,000 Change to be accepted by the
supplier
4 50,000 50,000 75,000 To be modified by the recipient
5 300,000 300,000 150,000 No issues – Recipient has 50%
exempt turnover

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 Electronic Cash Ledger – 9th Feb
10

Electronic Cash Ledger Electronic Liability Register

Balanc 50,000 Output tax
e for month

Balance with Bank

Balance 50,00,000

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 Electronic Cash Ledger – 10th Feb
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Electronic Cash Ledger Electronic Liability Register

Balanc 50,000 Output tax 200,000 200,000
e for month

Balance with Bank

Balance 50,00,000

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 Electronic Cash Ledger – 15th Feb
12

Electronic Cash Ledger Electronic Liability Register

Balanc 50,000 Output tax 200,000 200,000
e for month
(-) Tax 50,000 150000
Credit

Balance with Bank

Balance 50,00,000

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 Electronic Cash Ledger – 19th Feb
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Electronic Cash Ledger Electronic Liability Register

Balance 50,000 Output tax 200,000 200,000
for month
(+) Tax 250,000 300,000
Paid (-) Tax 50,000 150,000
Credit

Balance with Bank

Balance 50,00,000
(-) Tax 250,000 47,50,000
Paid

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 Electronic Cash Ledger – 20th Feb
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Electronic Cash Ledger Electronic Liability Register

Balance 50,000 Output tax 200,000 200,000
for month
(+) Tax 250,000 300,000
Paid (-) Tax 50,000 150,000
Credit
(-) Tax 150,000 150,000
Utilized (-) Tax Paid 150,000 NIL

Balance with Bank

Balance 50,00,000
(-) Tax Paid 250,000 47,50,000

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 Electronic Cash Ledger – 20th Feb
15

Electronic Cash Ledger Electronic Liability Register

Balance 50,000 Output tax 200,000 200,000
for month
(+) Tax 250,000 300,000
Paid (-) Tax 50,000 150,000
Credit
(-) Tax 150,000 150,000
Utilized (-) Tax Paid 150,000 NIL
(+) Credit 250,000 250,000
Mismatch

Balance with Bank

Balance 50,00,000
(-) Tax Paid 250,000 47,50,000

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 Electronic Cash Ledger – 20th Feb
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Electronic Cash Ledger Electronic Liability Register

Balance 50,000 Output tax 200,000 200,000
for month
(+) Tax 250,000 300,000
Paid (-) Tax 50,000 150,000
Credit
(-) Tax 150,000 150,000
Utilized (-) Tax Paid 150,000 NIL
(-) Tax 150,000 NIL (+) Credit 250,000 250,000
Utilized Mismatch
(-) Tax Paid 150,000 100,000
Balance with Bank
Balance 50,00,000
(-) Tax Paid 250,000 47,50,000

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 Ledgers to be maintained
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 CGST, SGST and IGST – Input

 CGST, SGST and IGST – Credits to be distributed in ISD
 CGST, SGST and IGST – Output
 CGST, SGST and IGST – Accrued but not due (CG)
 Electronic Cash Register
 Electronic Credit Register
 Electronic Liability Register

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 Cash Ledger – State Specific
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 Cash Ledger linked to the registration

 Balance in the cash ledger can be utilized against the respective
State tax liability
 Excess balance in one State and tax payable in another State
 Examine the cost of maintaining balances in various States v
Excess Input tax in States and tax payable in one State
 Stock Transfers
 Timely billing of intra company transactions
 Dashboards released by GSTN Portal
 CGST, SGST and IGST to be disclosed separately

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19 Record Maintenance

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 Record Maintenance
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 Documents to be maintained [Electronic documents (IT Act,

2000)]
 Production or Manufacture of Goods
 Inward Supplies
 Outward Supplies
 Stock of Goods
 Input tax credit
 Output tax payable and paid
 GST Portal
 Electronic Cash Register
 Electronic Credit Register

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 Record Maintenance
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 More than one place of business

 Audit of Records and Reconciliation
 Warehouse Owner / Operator
 Maintain details of consignor and consignee
 Period of Retention of Documents
 60 months from date of filing of annual return
 5 years and 9 months from end of the year

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 Thank You
For any Clarification, Please Contact
Indirect Taxes Committee of ICAI
Email: idtc@icai.in, Website: www.idtc.icai.org

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