Yes, a taxpayer can make GST payments through non-agency banks using NEFT/ RTGS.
NEFT/RTGS transaction charges are available on your respective bank websites.
Unique Transaction Reference (UTR) Number is a unique reference number provided by the user’s bank for each NEFT/RTGS transaction made by the account holder.
In such cases, contact the bank from where the funds were transferred using NEFT/RTGS.
As per current regulations, NEFT can be done for any amount more than 0 (you can even transfer INR 1.00) but NEFT does carry a maximum limit of INR 1,99,999 in many banks.
RTGS can be done for a minimum of INR 2,00,000 up to any amount without limits.
These amounts are governed by the current banking rules; you may refer to the RBI website for the same.
No, you don’t need to make payment to any separate account for paying through the NEFT/RTGS Mode. You can issue a cheque directly in favour of ‘YOURSELF FOR NEFT’ for NEFT or ‘YOURSELF FOR RTGS’ for RTGS along with the completely filled mandate form and the bank will debit the payment from your account and transfer it to GST’s RBI account.
Since this is an offline mode of payment, RTGS/NEFT payments can be made only during your bank branch’s banking hours.
No, you need to make one NEFT payment for a single CPIN.
In case you have funds in more than one account, you can either transfer funds to one account and then make a single payment. Alternatively, you can generate separate Challans, breaking up the liability into smaller amounts based on your balances across the accounts and then make a separate payment from each account.
UTR will be used for reconciling the NEFT/RTGS transaction with the RBI. UTR has to be linked if the payment status has not been updated on the GST Portal within 2 hours of making the payment. You can link the UTR by opening your NEFT/RTGS Challan available under Challan History. The option to Link UTR will be there on the landing page of the NEFT/RTGS Challan.
Contact the customer care of your bank to get the UTR.
The list of bank branches participating in the NEFT system is available on the website of the Reserve bank of India. https://rbi.org.in/scripts/Bs_viewcontent.aspx?Id=112
There is no limit imposed by GST. However, there may be a limit on transactions imposed by your bank so do check the limit with your bank.
No. In case of NEFT/RTGS mode of payment, only cheques are allowed.