All Courses
Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity Get the App Login Join for Free
Sign in Open App
Commerce Exam  >  Commerce Questions  >  How to solve such qtion (payment made of bala... Start Learning for Free
SaveJoin the Discussion on the App
How to solve such qtion (payment made of balance amount of GST)?
Clear all your Commerce doubts with EduRev
Most Upvoted Answer
How to solve such qtion (payment made of balance amount of GST)?
Payment made of balance amount of gst means setting off input gst and output gst
Community Answer
How to solve such qtion (payment made of balance amount of GST)?
Solution for Payment Made of Balance Amount of GST


Step 1: Calculation of GST Liability


  • Calculate the GST liability for the period for which payment needs to be made.

  • Determine the total amount of GST payable, including IGST, CGST, and SGST.

  • Ensure that all input credits have been claimed.



Step 2: Depositing GST Payment


  • Login to the GST portal using your registered credentials.

  • Click on the 'Services' tab from the homepage and select 'Payments' from the dropdown menu.

  • Then, click on the 'Create Challan' button.

  • Select the appropriate tax head i.e., IGST, CGST, or SGST, from the dropdown menu.

  • Enter the amount of tax payable in the respective tax head.

  • Click on the 'Generate Challan' button.

  • Verify the details of the challan and click on the 'Proceed to Payment' button.



Step 3: Payment through Online or Offline Mode


  • Select the payment method i.e., online or offline.

  • For online payment, select the desired payment option, such as net banking, credit card, or debit card, and follow the instructions.

  • For offline payment, take a printout of the challan and pay the tax amount at the designated bank.

  • After payment, the GST portal will generate a receipt of the tax payment.



Step 4: Filing of GST Return


  • After payment, file the GST return for the period for which the payment has been made.

  • Enter the details of the tax payment made in the return form.

  • Submit the return along with the payment receipt.



Conclusion


  • Payment of the balance amount of GST can be done online or offline.

  • It is important to calculate the GST liability accurately to avoid any discrepancies in the payment.

  • Filing of the GST return is mandatory after payment of the tax amount.

Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
Explore Courses for Commerce exam

Similar Commerce Doubts

Read the news report given below and answer the question that follow on the basis of the same: A lower trade deficit along with strong FDI and portfolio flows in F/Y 19 January-March quarter may help the external sector balance sheet and prop up both current account as well as the overall balance of payments numbers. This could reflect a lower current account deficit in the balance of payments for the quarter ended March. Trade balance, an important component of the current account, is estimated at a deficit of $35.6 billion for Q4 compared to $40.6 billion in the same period a year ago, thanks to lower crude prices and slowdown in gold and other imports. Other factors influencing the current account are software services income and remittances by overseas Indians. Market estimates for the F/Y 19 March quarter current account deficit is at $8.1 billion versus $13.2 billion for March’18 quarter.In the capital account, thanks to some bidding for defaulting companies by ArcelorMittal which are expected to have bought in some funds, FDI inflows in March is projected to be almost double the amount in the previous comparable period of March’18. Also, external commercial borrowing flows in the latest quarter are almost double the amount of the previous comparable quarter ending March’18. In addition, forex resources raised through the swap agreements with the commercial banks are expected to add another $5 billion through the foreign investment route. The overall balance of payments surplus is estimated higher at $17 billion for the latest March quarter compared to the $13 billion surplus in the March’18 quarter.Q. The Forex resources have surged in India. What effect does it have on the country?

Top Courses for CommerceView all

Top Courses for Commerce

How to solve such qtion (payment made of balance amount of GST)?
Question Description
How to solve such qtion (payment made of balance amount of GST)? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about How to solve such qtion (payment made of balance amount of GST)? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How to solve such qtion (payment made of balance amount of GST)?.
Solutions for How to solve such qtion (payment made of balance amount of GST)? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of How to solve such qtion (payment made of balance amount of GST)? defined & explained in the simplest way possible. Besides giving the explanation of How to solve such qtion (payment made of balance amount of GST)?, a detailed solution for How to solve such qtion (payment made of balance amount of GST)? has been provided alongside types of How to solve such qtion (payment made of balance amount of GST)? theory, EduRev gives you an ample number of questions to practice How to solve such qtion (payment made of balance amount of GST)? tests, examples and also practice Commerce tests.
Explore Courses for Commerce exam

Top Courses for Commerce

Explore Courses

Suggested Free Tests

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Get App
© EduRev
Education Revolution
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup