Form PMT-06 is a GST challan or a form for deposit of goods and services tax. This Challan has gained significance after the introduction of the QRMP Scheme. It can be generated for any payment made via net banking or OTC (over the counter).
The Indian Government has shared a set format for form gst pmt-06 payment challan. Please refer the image below:
Who can generate PMT-06?
Any person, (or a person on his behalf) can generate the challan in PMT-06 on the common portal. The person needs to enter the details of the amount to be deposited by him/her towards tax, interest, penalty, fees or any other amount as per Rule 87(2) of CGST and SGST Rules, 2017.
How to generate challan in PMT-06 for GST payment?
- The PMT-06 challan has to be generated before making payment of net tax liability by the registered person.
- Navigate to form PMT 06 from ‘Services’ > ‘Payments’ > ‘Create Challan’ buttons.
- Details of the amount of tax, interest, penalty, fees, or any other amount payable are entered in challan to generate a Challan Portal Identification Number (CPIN) on the GST portal.
- In case of over the counter payment, the taxpayer will have to take a printout of the challan and make the payment at an authorized bank
- Once the payment is done successfully, a Challan Identification Number (CIN) is generated by the bank for any payment such as online or over the counter.
The validity of one challan is of 15 days. The challan application can be submitted on the common portal within 24 hours of paying tax.
Modes of Payment
The tax payment can be made via
(i) Internet Banking through authorized banks
(ii) Credit card/debit card via authorized bank
(iii) NEFT/RTGS from any Bank
(iv) Over the Counter Payment (OTC) only through authorized banks for deposits up to Rs. 10,000/- per challan per tax period, by cash, cheque, or demand draft as per Rule 87(3) of CGST and SGST Rules, 2017.
The bank shares a CIN (challan ID number) which needs to be mentioned in form PMT-06. A complaint would be forwarded by the common portal to the bank if the CIN is not shared by them. An intimation would also be provided to the registered person about the same.
The amount of tax paid by the registered person will be shown as a debited entry in the electronic cash ledger (Form GST PMT-05).
The registered person needs to file another application using the form GST PMT-07 if there is any difference in the amount of tax paid and the debited entry.
PMT 06 for QRMP scheme
QRMP Scheme requires taxpayers to file GSTR-3B every quarter but tax has to be paid monthly. For the first two months of the Quarter, tax can be paid using PMT-06 by the 25th of the following month.
There are two methods of computing the tax liability for the first two months of the quarter – The fixed sum method and self-assessment method.
If the balance in the electronic cash ledger is insufficient to settle the tax liability as computed under any of the above two methods, then pay tax using PMT-06.
(A) Fixed sum method:
The GST portal generates pre-filled PMT-06 (challan), equal to 35% of the tax paid in cash where the last GSTR-3B was filed quarterly and 100% of tax paid in cash, where the last GSTR-3B was filed monthly. This can be availed only if the return for an entire tax period before the month is filled. For this option user has to select Challan type as “35% Challan”.
(B) Self-assessment method:
The tax due can be paid in PMT-06, after considering the tax liability on outward and inward supplies, deducting the available input tax credit for that month. For this option user has to select Challan type as “Challan on self – assessment basis”.
Benefits of PMT 06
- Any online payments made using this challan after 8 p.m. is credited to the electronic cash ledger of the taxpayer on the same day
- GST practitioners can also make payments on behalf of their clients
- Instant online payments
- No limit on the count of challans created in a day
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