GST tax can be paid via monthly installments

and Services Tax (GST) regime can be paid in monthly installments for up to two years in case of monetary adversity. The revised draft GST model Bill, approved by the GST Council, gives powers to tax officers to allow a taxpayer to pay dues in a staggered manner if he is facing a financial problem.

The move is aimed at improving the scope of revenue recovery without causing hardship to the assesses. “A provision for installment for the payment of tax has been allowed in the law, in case of assessment. Commissioners have been empowered to examine and approve the mode of payment of dues,” said a senior government official in the ministry of finance. Payments made via installments will escape penalty but not interest.