Interim accounting arrangement for e-Payment collection-reg. - Service Tax - 05/2007

Interim accounting arrangement for e-Payment collection-reg. OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE: DELHI -I C.R.BUILDING : I.P. ESTATE : NEW DELHI C.No. IV(16) 118/CE/TECH/D-I/2007/ Dated 13.07.07 TRADE NOTICE NO. 05/2007-08 Subject:- Interim accounting arrangement for e-Payment collection-reg. All the members of trade and industry are informed that the Controller General of Accounts, Central Board of Excise and Customs, has approved Allahabad Bank and Central Bank of India for the collection of indirect taxes through electronic mode. The following interim accounting arrangement for e-Payments in respect of these banks has been proposed:- 1. (a)These banks will be allowed to accept e-payment for all Central Excise and Service Tax Commissinerates without the restriction of Commissionerate-wise authorization. (b) However, for physical collection of CBEC revenue, these banks will follow the existing restriction of authorised Commissionerates. (c) For all authorised Commissionerates, these banks through their "existing Focal Point Branches" will collate all physical payments and e-Payments for preparing the scroll. These FPBs will act as receiving branch and FPB for e-Payment collections. The Scrolling will be Commissionerate-wise and Major Head-wise. (d) Collection through e-Payment mode for other Commissionerates that are not covered for physical collection will be collated at a branch in Delhi ( Such CBS branch will be identified by each bank) for scrolling. The branch so identified will prepare hard copies of challan ( 4 copies ). The distribution and usage of stamped and receipted Challans is as under: Challan Copy To Whom Purpose/ Use One Concerned Pay Accounts Office (along with the scroll) Detailed Accounting reconciliation Two Taxpayer (at mailing address) Tax Return record One Designated Divisional Officer of the concerned Commissionerate Reconciliation with Tax Return The scrolling will be Commissionerate-wise and Major Head-wise . (e) Reporting to bank's link cell and fund settlement with Reserve Bank of India will be as per the existing procedure(Commissionerate-wise and Major Head-wise) (f) The mailing address of concerned Commissionerates against each Commissionerate Code and mailing address of Pay and Accounts officers against each Commissionerate Code will be provided to the concerned bank to enable correct distribution of stamped and receipted Challans as above. 2. The above proposed procedure will allow revenue reconciliation and bank reconciliation without any deviation from the existing procedure till the Electronic Accounting Solution is put in place and stabilized. 3. All trade associations are requested to give wide publicity to the contents of this Trade Notice amongst their members/constituents. (PRAVEEN JAIN) COMMISSIONER Copy to all as per mailing list. Authority:Pr.Chief Controller of Account,CBEC,letter no. Coord-II/6-5/e-Payment/07/77 dt.4.6.07 and even no. 104 dt.18.6.07.