What are the major features of the proposed payment procedures under GST?

The major features of the proposed payments procedures under GST are as follows:

  1. Electronic payment process- no generation of paper at any stage
  2. Single point interface for challan generation- GSTN

iii.            Ease of payment – payment can be made through online banking, Credit Card/Debit Card, NEFT/RTGS       and through cheque/cash at the bank

  1. Common challan form with auto-population features
  2. Use of single challan and single payment instrument
  3. Common set of authorized banks

vii.            Common Accounting Codes


Source: www.gstindia.com

Posted in GST

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