Payment of GST in India, an ease of doing business

 

GST payments in India, how?

Payment of GST in India, an ease of doing businessThe arrangements provided by government to pay tax of country becoming so easy nowadays in any country. Here, GST payment system in India also makes easier time to time. Now a complete electronic payment process helps tax payers to save more time by ease of doing business.

GST payment process in India makes simpler

Electronic Generated Challan for GST tax payment:

Once you have installed GST software at your place, (let it be office, home or anywhere) you can log in to GSTN (Goods and Service Tax Network) electronically with login ID and password provided by GSTN. You can feed required information and a copy of GST challan is generated. You may take a print for your office reference manually or can file same electronic version if you require. There is no manual filing of GST returns and tax payment including GST tax challan. So electronically generated challan from GSTN Common Portal is generated in all modes of payment and no use of manually prepared challan used.

Hassle free payment of GST – Any time anywhere.

Since GST payment system in India is by electronic system, the GST payment is hassle free. Facilitation for the taxpayer by providing hassle free, anytime, anywhere mode of payment of GST tax payment.

Convenience of making GST payment online

Online GST payment is very simpler to effect which is very convenient for tax payers under GST tax payment system.

Logical tax collection data in electronic format for GST tax payment in India

The GST tax collection date can be availed in electronic format for each e-account holder of GST which helps ease of doing business.

Faster remittance of GST tax revenue to the Government Account

Unlike previous years, the remittance of GST tax revenue to government makes faster with computer accuracy which saves the time of government servants in turn time of nation.

Paperless transactions for all GST tax system in India

As informed earlier, no paper work transactions are involved in GST tax registration, filing of tax returns, payment of GST or at any other stages except some unavoidable circumstances if required. This will help not only the advantages mentioned above but also to support green environment by avoiding cutting trees to make papers.

Speedy Accounting and reporting system for GST payment and claim in India

The electronic system of GST tax payment results speedy accounting and reporting which is another advantages of GST tax payment in India.

Electronic reconciliation of all receipts under GST system of payments and refund

Reconciliation of receipts and payments is done very fast electronically in GST payment system in India which saves a lot of time in all channels of GST tax collection and payment system. Settlement of Input Tax Credit makes very faster with this electronic system of GST tax payment system in India.

Simplified procedure for banks in handling GST receipts and payments

Linking Bank software for GST system with GSTN and Tax payers makes too easy to operate, as GST payment system with bank is in simplified process and formalities.

Warehousing of Digital Challan.

The storage of digital challan for GST tax payment is another feature of GST tax payment in India which helps tax payers for avoiding manual filing of GST challan.

The above information provides the features of GST payment in India. If you would like to add more information about GST Tax payment and refund system in India, share below your thoughts:

 

 

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