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Pay GST in Installment, and on the Basis of Receipts Instead of Invoices

GST Payment in EMIs

In a recent event, some sources hinted that the Government can provide a big relief regarding the problems people face in paying GST due to the effect of lockdown and Covid-19 pandemic. They said that the Government can allow GST Payment in EMIs, so taxpayers and business houses can pay GST in installments. One more update received from these sources that the Government may permit taxpayers to pay GST on the basis of receipts instead of invoices. 

However, the GST Payment in EMIs will attract interest on the payment. The government is also thinking of reducing the existing interest rate on clearing all old/ pending taxes.

Traders and businesses are facing problems in filing the GST when their payment gets stuck. And when there is countrywide back to back lockdowns and restrictions on movements, this problem is very common. 

Read Also: GST Return Filing Features: Gen GST Software vs CompuTax vs ClearTax

The government has decided to provide immediate relief to the traders, that’s why by considering these problems the Government will provide relief by offering an exemption to pay GST only on the receipt instead of an invoice. The Provision of paying GST after the payment will definitely provide relief to all the traders and businesses.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Sourabh Kumar (Ex-Employee)
Sourabh Kumar is Tech Influencer who wants to explore new fields, Documents and represent his gained knowledge to the world. He is having a vast experience in writing content in Technology, Social Issues, and the education field. Interest in learning new things and sharing observations and knowledge brings him to SAG Infotech as Content Writer. View more posts
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1 thought on "Pay GST in Installment, and on the Basis of Receipts Instead of Invoices"

  1. Really good thinking and big relief to gst payers it another one type of support from the government to the suffering companies who are not getting the payment because of gst not paid surly this decision is helps to lot of enterpuners

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