Payment System
Payment System:
System of electronic cash ledger and electronic ITC ledger
Tax can be deposited by internet banking, NEFT / RTGS, debit/credit card and Over The Counter
Date of credit to the Govt. account in the authorized bank is the date of payment for credit in electronic cash ledger
Payment of Tax is made by way of the debit in the electronic cash or credit ledger
Cross-utilization of ITC between CGST & IGST, between SGST/UTGST & IGST allowed
Hierarchy for discharging payments of various tax liabilities
Provision for TDS on certain entities
E-Commerce Operators, facilitating supplies by other suppliers, to collect Tax at source (TCS), at the time of supply, out of payments to be made to such suppliers
System of electronic cash ledger and electronic ITC ledger
Tax can be deposited by internet banking, NEFT / RTGS, debit/credit card and Over The Counter
Date of credit to the Govt. account in the authorized bank is the date of payment for credit in electronic cash ledger
Payment of Tax is made by way of the debit in the electronic cash or credit ledger
Cross-utilization of ITC between CGST & IGST, between SGST/UTGST & IGST allowed
Hierarchy for discharging payments of various tax liabilities
Provision for TDS on certain entities
E-Commerce Operators, facilitating supplies by other suppliers, to collect Tax at source (TCS), at the time of supply, out of payments to be made to such suppliers
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