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INTRODUCTION

Para 1 - Business Processes for GST - Payment - Goods and Services Tax - Para 1 - During the Empowered Committee meeting held on 10th March, 2014, it was decided that a Joint Committee under the co-convenership of the Additional Secretary (Revenue), Government of India and the Member Secretary, Empowered Committee should be constituted to look into the Report of the Sub-Group-I on Business Processes for GST and make suitable recommendations for Payment and Return to the Empowered Committee. Acco .....

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decision, the Member Secretary, Empowered Committee constituted the Sub-Committee vide his memorandum letter dated 3rd February, 2015 (Annexure-II). Shri V Rajendaran, DG (Government Accounts), CAG, Mrs. Krishna Tyagi, CCA, CBEC, Government of India, Shri Madan Mohan, Jt. CGA, Government of India and Shri G Sreekumar, CGM, RBI were co-opted as members of the Sub-Committee. Shri Ravneet S. Khurana, Deputy Commissioner GST Cell, CBEC also participated in the deliberations of the Sub-Committee. Th .....

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cers as listed in Annexure III. 4. In modern day taxation regime, every transaction of the tax payer with the tax administration should be transparent, responsive and simple. It has been experience of tax administrations that more the system and procedures are made electronic more is the efficiency of tax administration and greater is the satisfaction of taxpayer. In this context, payment system of GST should also be based on Information Technology which can handle both the receipt and payment p .....

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on the Challan; d) Designing the format of a new Challan for use by the taxpayers paying GST; e) Developing a detailed accounting procedure common to both Central and State Governments for GST, covering all relevant aspects of payments, accounting and related banking arrangements. 6. It is noted that under GST regime, some taxes and duties may remain outside the purview of GST and will continue to be collected in the manner prescribed under existing accounting procedures/rules/manuals, etc. Thi .....

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payment online; d) Logical tax collection data in electronic format; e) Faster remittance of tax revenue to the Government Account; f) Paperless transactions; g) Speedy Accounting and reporting; h) Electronic reconciliation of all receipts; i) Simplified procedure for banks; j) Warehousing of Digital Challan. 8. With the above features in mind the following three modes of payment are proposed: a) Payment by taxpayers through Internet Banking through authorized banks and through credit card/debi .....

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er payment (OTC) through authorized banks; c) Payment through NEFT/RTGS from any bank (including other than authorized banks). 9. Mode of payment described at b) above will be available for payments up to ₹ 10,000/- per challan only. Model GST law may have suitable provisions in relation to this. However, there should not be any IT system constraints for this i.e. the systems should be able to receive payments through all three modes irrespective of the amount. Other means of payment, such .....

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