Understanding the Structure of GST PMT-01 Form

This article initiates a series addressing queries about the formats of various GST payment forms. Our initial focus is on the electronic liability register for GST-registered and taxable individuals. This register is submitted using Form GST PMT-01, which comprises two sections. Part 1 of Form GST PMT-01 outlines the registered person's liabilities related to return filing, while Part 2 covers all other liabilities.

Form GST PMT–01

For individuals registered and taxable under GST, Form GST PMT-01 presents two slightly varied formats. A registered person's Form GST PMT-01 must include details such as GSTIN, legal name, and any trade name, organized under major and minor heads. While Form GST PMT-01 (Part 2) largely mirrors Part 1 in structure, it incorporates several additional fields and data points.

Electronic Liability Register for Registered Individuals

Part I of Form GST PMT-01, concerning return-related liabilities, is managed on the Common Portal and includes GSTIN, legal name, any trade name, and the tax period. Part 2 of Form GST PMT-01 requires additional information such as:

1. Demand ID
2. Demand Date
3. Stay Status (Stayed/Unstayed)
4. Applicable Act (CGST/SGST/UTGST/IGST/CESS/All)

Detailed Information on Form GST PMT-01 Format

GST-registered individuals can use Form GST PMT-01 to view essential tax payment or refund information. This includes the payment/refund date, transaction details, and the reference number assigned during payment or refund application. The electronic liability register also specifies whether Input Tax Credit (ITC), net banking, or over-the-counter (OTC) payments were utilized to settle GST obligations. Furthermore, Form GST PMT-01 indicates if the Electronic Credit Ledger (Form GST PMT-02) or Electronic Cash Ledger (Form GST PMT-05) was used. All debited or credited amounts, categorized under various heads such as CGST, SGST, UTGST, IGST, and Cess, are detailed within the form under minor heads like tax, interest, penalty, fee, and others.

Consider an example where a company, 'Alpha Services,' had a total GST liability of Rs 10 lakhs. They settled Rs 5 lakhs using their available Input Tax Credit (ITC) from the electronic credit ledger and an additional Rs 3 lakhs via net banking. Alpha Services also incurred a penalty of Rs 50,000 for failing to collect Tax Collected at Source (TCS) on inter-state sales of their aggregated services, which included spa products. The Electronic Cash Ledger (Form GST PMT-05) was utilized for these transactions as follows:

• Settling Liability with ITC:
  • Transaction Type: Credit
  • Ledger Used: Electronic Credit Ledger (Form GST PMT-02)
  • Amount Debited/Credited: Rs 5,00,000 under the 'TAX' minor head.
  • Remaining Balance: Rs 5,00,000 under 'TAX' and Rs 50,000 under 'PENALTY'.
• Settling Liability via Netbanking/OTC:
  • Transaction Type: Credit
  • Ledger Used: Electronic Cash Ledger (Form GST PMT-05)
  • Amount Debited/Credited: Rs 3,00,000 under the 'TAX' minor head.
  • Remaining Balance: Rs 2,00,000 under 'TAX' and Rs 50,000 under 'PENALTY'.
• Paying TCS Non-Collection Penalty:
  • Transaction Type: Credit
  • Ledger Used: Electronic Cash Ledger (ITC is not permissible for penalty payments).
  • Amount Debited/Credited: Rs 50,000 under the 'PENALTY' minor head.
  • Remaining Balance: Rs 2,00,000 under 'TAX'.

Key Considerations

1. This ledger records all liabilities that arise from tax returns and the corresponding payments.
2. The 'Description' section also includes liabilities resulting from choosing the composition scheme or registration cancellation. These liabilities are entered into the liability register for the tax period when the application or order date occurs.
3. A positive closing balance will invalidate the return. The balance is calculated by subtracting the paid amount (credit) from the payable amount (debit).
4. 'Cess' refers to the levy imposed under the Goods and Services Tax (Compensation to States) Act, 2017.

Future articles will delve into other relevant GST payment forms.