GST What are the main features of GST payment process?

Raju Choudhary

Administrator
Staff member
#1
Ans. The payment processes under GST Act(s) have the following features:

  • Electronically generated challan from GSTN Common Portal in all modes of payment and no use of manually prepared challan;
  • Facilitation for the tax payer by providing hassle free, anytime, anywhere mode of payment of tax;
  • Convenience of making payment online;
  • Logical tax collection data in electronic format;
  • Faster remittance of tax revenue to the Government Account;
  • Paperless transactions;
  • Speedy Accounting and reporting;
  • Electronic reconciliation of all receipts;
  • Simplified procedure for banks
  • Warehousing of Digital Challan