PMT-06 -For QRMP Scheme

Form PMT06 is a GST-challan. It's a form for depositing goods and services tax. The QRMP Scheme has given this Challan a lot of importance. It can be generated for any OTC (overthe counter) payment that is made via net banking.

The Indian Government has created a common format for form GST PMT-06 payment challan. See the following image:

Who can generate PMT06?

Anyone (or anyone on his behalf) may generate the PMT-06 challan via the common portal. The individual must enter the details of the amount that will be deposited towards tax, interest penalty or fees as per Rule 87(2) CGST and SGST Rules.

How do you generate?Payment of GST by challan using PMT-06What?

• The PMT06 challan must be created before the registered individual can pay net tax.
• Navigate to Form PMT 06 using the Services> Payments> & ’Create Challan’ buttons.
• In challan, details of the tax, interest and penalty amounts, as well as any other amount, are entered to generate a Challan Portal Identity Number (CPIN), which can be used to access the GST portal.
• For an over the counter payment, the taxpayer must take a copy of the challan to make the payment at an authorized banking institution.
• Once payment has been successfully made, the bank generates a Challan Identification number (CIN) for any online or over-the-counter payment.

A challan's validity is limited to 15 days. You can submit your challan application on the common portal within 24 hour of paying tax.

Modalities for Payment

Tax payments can be made through

(ii) Internet Banking with authorized banks

(iii). Credit card/debit cards via an authorized bank

(iii) Any Bank NEFT/RTGS

(iv). Over the Counter Payment (OTC), only available through authorized banks for deposits above Rs. 10,000/- per challan for tax period by cash, cheque, demand draft or cheque as per Rule 87(3) CGST and SGST Rules 2017.

The bank shares the CIN (challan ID) that must be mentioned on form PMT06. The common portal would forward a complaint to the bank if they do not have the CIN. The registered person would also receive an intimation about the same.

The electronic cash ledger will show the tax amount paid by registered persons as a debited item (Form GSTPMT-05).

If the amount of tax paid or the debited entry differ, the registered person will need to submit another application using GST PMT 07

PMT 06 for QRMP Scheme

QRMP Scheme mandates that taxpayers file GSTR-3B quarterly, but tax has to paid monthly. You can pay tax using PMT06 until the 25th of each month for the first two months.

There are two ways to compute the tax liability for the quarter's first two-months:The fixed sum method, and the self-assessment approach.

If the electronic cash ledger balance is insufficient to cover the tax liability computed using one of the methods above, then you can pay tax with PMT-06.

(A) Fixed Sum Method:

The GST portal generates prefilled PMT06 (challan), equaling 35% of the tax paid by cash if the last GSTR-3B was filed every quarter and 100% of the tax paid by cash if the last GSTR-3B file was monthly. This is only available if you have filed a complete tax return before the month ends. To select Challan type "35% Challan",

(B) Self assessment method

PMT-06 allows you to pay tax. This is done after taking into account the tax liability for outward and inward supplies. You will need to choose Challan type "Challan for self-assessment basis"

Benefits of PMT06

1. Any online payments made after 8 p.m. using this challan are credit to the electronic cash ledger by the taxpayer on that day
2. GST practitioners can also make payments for clients
3. Instant online payments
4. There are no limits on how many challans can be made in one day

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