How to make GST Payment and Electronic Cash Ledger Explained

making gst payment using form-05, form-06
How to make gst payment

The GST platform which has been created by the Government has 3 ledgers for managing GST payment, liability, input credit, interest, penalty pending, late fee or any other amount which are Electronic Liability Ledger, GST Electronic Credit Ledger and GST Electronic Cash Ledger. The 3 ledgers are used to balance the GST liability, credit and payments pertaining to each of the GST taxpayer. This article would explain the procedure for making GST payment and also electronic cash ledger would be explained.

GST Electronic Cash Ledger

Electronic Cash Ledger is maintained in the Form GST PMT-05 for each and every GST taxpayer. Electronic Cash Ledger would have the credit entries for amount deposited towards GST liability and would also have debit entries for the payments like GST tax, penalty, interest or any other amount. The image shown below shows Electronic Cash Ledger or Form PMT-05:

Filling GST Form PMT-05 for company, proprietor, startup, entrepreneur
Form GST PMT-05

Procedure for Depositing GST Payment

To deposit GST payment meaning to debit GST Electronic cash ledger account, the taxpayer or any other person can generate Challan in Form GST PMT-06 on the GST Common Portal. Based on the GSTIN, details like name and address of taxpayer, email and mobile number on the account would be auto populated. The taxpayer after that should then enter GST payment details like major heads of accounts i.e. CGST, IGST, UTGST , SGST, subtotal, cess and minor heads of accounts which include Tax, Interest, penalty, fees and other items.

Filling Form GST PMT-06A for company, startup
Form GST PMT-06A
Filling Form GST PMT-06B for company, startup, proprietor, proper
Form GST PMT-06B

After the payment information has been entered, payment mode must be entered along with the other information like Depositor Name, Signature, Date and Designation. FORM GST PMT-06 is valid for 15 days after being generated.

Modes of Making GST Payment

There are various modes through which payment can be made. They are:-

  • Internet Banking
  • Credit or Debit Cards
  • NEFT or RTGS
  • Over the Counter payment through authorized banks for deposits up to 10,000 Rs per challan per tax period, by demand draft, cash or cheque
    • The restriction is not applicable to the deposits made by Departments of Government or any other officer authorised to recover outstanding dues from any person

CIN Generation on Successful Payment

After successful payment for GST has been made, a Challan Identification Number (CIN) is generated and the same CIN is indicated in the challan. On obtaining CIN from this collecting Bank, the GST payment amount is credited to electronic cash ledger and receipt is provided on the GST  Portal.

CIN Not Generated After Making Payment

There are cases where bank account of might be debited but no CIN is generated or communicated, the taxpayer can use FORM GST PMT-07 to make a representation through Common Portal to the Bank or electronic gateway by which the deposit was initiated for assistance.

filling Form GST PMT-07 for proprietor, company, startup
Form GST PMT-07

Discrepancy in Electronic Cash Ledger

There might be a case where CIN has been generated but there is a discrepancy with either Electronic Cash Ledger or Electronic Credit Ledger or the Electronic Liability Ledger,  then FORM GST PMT-04 can be used for indicating the discrepancy and getting assistance.

Filing Form GST PMT-04 for company, startup, entrepreneur, proprietor
Form GST PMT-04

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