GST Advisory: Introduction of New Modes of GST Payment by Debit Card/Credit Card/UPI
Advisory 622: In a significant move towards digitalization and simplified tax processes, the Goods and Services Tax (GST) system has introduced an innovative feature, allowing taxpayers to make GST payments seamlessly through the Unified Payments Interface (UPI). This groundbreaking initiative, effective from January 18, 2024, aims to enhance the convenience of GST payments for users. An official advisory from GST Tech, now known as ‘X’, shared the details on Twitter.
Payment Options for Greater Flexibility
To cater to the diverse preferences of taxpayers, two additional payment methods have been seamlessly incorporated into the existing e-payment system. Alongside net banking, users can now make GST payments using Credit Cards and Debit Cards. Accepted card types include Mastercard, Visa, Rupay, and Dinners (Credit Card only), issued by any Indian bank. Additionally, payments through Credit Cards, Debit Cards, and UPI can be effortlessly processed through Kotak Mahindra Bank, with other banks currently in the integration phase.
UPI Facility Operational in Ten States
The revolutionary UPI option for GST payments is currently operational in ten states and union territories, namely Odisha, Delhi, Goa, Gujarat, Haryana, Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, and Assam. Anticipated to expand further, this service is expected to be adopted by other states in the near future, broadening its coverage.
Future Expansion Plans
This forward-looking move is poised to simplify and streamline the GST payment process for both businesses and individuals. With plans to extend this service nationwide and integrate additional banks, the initiative aims to offer a seamless and efficient tax payment experience for taxpayers across India.
Steps for GST Payment through DC/CC/UPI
Step 1: LogIn to www.gst.gov.in
Step 2: Create Challan and select ‘E-Payment’
Step 3: Choose from multiple Payment options such as Debit Card/ Credit Card/ UPI
Step 4: Select Kotak Mahindra Bank and Click on ‘Make Payment’
Step 5: Enter Debit card/ Credit card/ UPI details of any bank of your choice
Step 6: Complete the Transaction
Conclusion
The introduction of UPI as a mode of GST payment reflects a progressive approach towards leveraging technology for the benefit of taxpayers. This user-friendly and secure payment option is a testament to the ongoing efforts to enhance the efficiency and accessibility of financial transactions in the realm of taxation. As the initiative gains momentum, it is expected to become a cornerstone in the broader landscape of digital financial services, marking a positive step towards a more technologically advanced and user-centric taxation system in India.
To Access the GST Advisory 621 Dated 15 January 2024 CLICK HERE
To Access the GST Advisory 622 from the GST Portal CLICK HERE
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