About Goods and Service Tax (GST)
ICICI Bank is an authorised bank for collection of GST. GST is a consumption-based tax.
Pay GST through your ICICI Bank Account through any of the below payment modes:
Corporate Internet Banking (CIB)
InstaBIZ Mobile app
ICICI Bank Branches through Cash, Cheque, Demand Draft & NEFT/RTGS.
For more details, Click on the GST e-booklet.
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GST Payment Period: 15-20th of the Month
GST Payment Process
GST can be paid through ICICI Bank, through both Online and Offline modes. GST payment online can be done through ICICI Bank Corporate Internet Banking or the InstaBIZ mobile app. Offline payment can be done by visiting an ICICI Bank Branch to pay over the Counter through Cash, Cheque, Demand Draft and NEFT/RTGS.
Follow the below steps while generating challan ,to pay GST instantly:
Select ‘Net Banking’ > Mode ‘E-payment’ > Select ‘ICICI Bank’ > Click on ‘Pay as Corporate User’ on GST Portal
Log in to Corporate Internet Banking
Select the ‘Preferred Bank Account’
Click on ‘Download Debit Advice’ to obtain the receipt.
Click here to know the detailed steps for GST payment online through CIB with Single Authorisation.
Click here to know the detailed steps for GST payment online through CIB with Multiple Authorisation.
If you have already generated challan, follow the below steps to pay GST:
Select ‘NEFT’ as the mode of payment on GST Portal
Log in to InstaBIZ app or Corporate Internet Banking and Click on ‘Pay GST Challan’ in the ‘Tax’ section
Enter the ‘GST Challan No.’ → ‘Account No.’ → ‘Amount’ and Click on ‘Proceed’
Enter OTP and Grid values – both sent to the registered mobile number & Click on ‘Proceed’.
Click here to Generate Challan
Click here to Pay Now
GST would be payable on the ‘transaction value’. Transaction value is the price actually paid or payable for the said supply of goods and/or services between un-related parties. The transaction value is also said to include all expenses in relation to the sale, such as packing, commission etc.
For enabling a buyer claim input tax credit, the GST law inter-alia prescribes that the supplier should deposit the GST and file GST returns. Effectively, through this provision, the buyer of goods/services will have to ensure that all his/her vendors pay GST and file returns.
A service provider was required to pay the Service Tax and this amount was required to be paid to the Central Government. Going forward, in the GST regime, the service provider will have to pay the GST on services based on the ‘place of supply’. Also, registration requirement in GST, will be state-wise.
GSP is a robust platform for taxpayers to access the GST systems, which will provide all users an interface and convenience through a secured GST system API.
GST will be managed through the GST Network. All taxes will be paid online and there will be no manual filing of returns.
- Online (Net Banking)
- Over the Counter (Branch).
GST will be collected through all ICICI Bank Branches. Transaction limit of Rs <10,000> per challan, over the counter.
- Ease in execution, instantly
- Accessibility 24x7
- Anywhere Banking
- Free of Charge
- Accuracy with Security.