In India, payments of taxes have been facilitated online by the Goods and Services Tax system. It is almost always essential to ensure the correctness of every GST payment to avoid penalties and any compliance issues. This article will walk you through how to check GST payment status.
Authorized banks offer both online and offline options for paying GST. The taxpayer must create a GST payment challan and log into his or her GST account before making a GST payment. Other articles address the process for creating a GST challan and paying the GST. The process for monitoring the status of GST payments on the GST portal is examined in this article. Since it provides users with a record of the entire transaction, tracking payments is crucial on several levels. Use the procedures listed below to monitor the full payment. If the benefit is not credited towards GST payment up to 24-48 hours, a ticket for GST payment issues can be opened.
About GST Payment
- The process whereby taxpayers make payment of their GST dues when they sell or buy goods and services.
- It is an indirect tax which is levied on every sale. So, companies will collect GST at the point of sale from their customers and then remit that periodically to the government.
- Payments should be made monthly or quarterly depending on the type of taxpayer.
Who Should Pay GST?
The following are required to pay for the GST:
- Regular Taxpayers: Companies with a turnover above the allowed threshold are considered regular taxpayers.
- Composition Scheme Taxpayers: Small companies that choose to pay GST at a set rate under a composition scheme.
- Casual Taxable Persons: Persons or companies that regularly provide goods and services within the territory of India.
- Non-resident Taxable Persons: Non-residents who sometimes provide goods and services in India are known as non-resident taxable persons.
Different types of taxpayers have different dates and procedures for paying GST.
Who Can Track GST Payments?
Monitoring the GST payments helps in developing transparency in governance and compliance. Several organizations are vital for monitoring and overseeing the GST payments are:
- Taxpayers: Tracking the GST payments starts with the individual taxpayer. By accessing the GST website, both individuals and registered businesses may keep track of their payment status. This method gives the taxpayer the needed information for making them ready to comply with their financial obligations.
- Goods and Services Tax Network (GSTN): Moreover, the GSTN serves as the technology backbone of GST through which the payment is tracked. It offers a comprehensive online platform through which taxpayers have access to their filing status, challans, and payment history. The GSTN streamlines payment verification procedures by functioning as a centralized system.
- Authorities of GST: The GSTN provides real-time data access to state and federal government bodies alike. They are essential in keeping an eye on GST payments to make sure tax laws are being followed. Tax authorities may conduct audits or investigations in response to any disparities or non-compliance.
- Financial Institutions and Banks: Banks and financial institutions also contribute to tracking GST payments. They handle the electronic money transfers that taxpayers start, and they give GSTN the transaction details. By looking for successful fund transfers on their bank statements, taxpayers can double-check the validity of their payments.
- Platforms for GST Compliance: Other methods for tracking payments are provided to businesses by third-party GST compliance platforms and software solutions. These solutions frequently link with the GSTN, giving customers access to thorough dashboards, warnings for deadlines, and payment reminders.
- Professionals in Taxation and Chartered Accounting: To handle their GST compliance, businesses often use tax experts or chartered accountants. These experts track payments using their knowledge and access to client data, guaranteeing timely submissions and compliance with GST laws.
How To Check GST Payment Status?
Without Logging into the GST Portal:
- After going to https://www.gst.gov.in/, select Services > Payments > Monitor the Status of Payments
- Put your CPIN in the Enter CPIN form, your GSTIN or other ID in the Enter GSTIN/Other ID field, and the captcha text in the Enter the characters as they appear in the field below. The TRACK STATUS button should be clicked.
- The status of the payment will be shown. Click the VIEW CHALLAN button to see the challan.
- To save the challan in PDF format, click the DOWNLOAD button.
Note:
- You can retry the payment by clicking VIEW CHALLAN, choosing the bank, accepting the terms, and clicking MAKE PAYMENT if the status is FAILED / NOT PAID and the mode is E-Payment.
- The VIEW RECEIPT button will be accessible to view and download the receipt if the status is PAID.
- Only the challan for any other status will be visible to you.
After Logging into the GST Portal:
Step 1: Visit the GST Portal and log in first
- Log in to the GST site with your login information to start the process. This guarantees safe access to your payment information and account.
Step 2: Proceed to Challan History
- Choose the “Services” option after logging in. Select the “Challan History” option under the “Payments” section. This acts as the entry point to comprehensive data regarding your financial transactions.
Step 3: Search and Retrieve
- You can search the “Challan History” area for payment details by using the CPIN or specific dates. After entering the necessary data, the search will continue.
Step 4: Examine Payment Status and Challans
- A complete list of challans and the associated payment statuses will be shown by the system. It provides a snapshot of payment history and facilitates the effective monitoring of the progress of specific transactions.
Conclusion
The periodical checking of the status of payment made under the GST Payment helps the compliance of this tax on goods and services. On your next monthly filing of GST on the national level, you might come across any complexity to start using the portal in the initial two to three attempts. In this case, you can connect with various specialists for additional clarification and for knowledgeable assistance.