Central Bank authorized to accept DVAT payments by all the dealers and e-payments by dealers having monthly or quarterly tax periods - No. F.7(239)/P-I/05/VAT/2009/860-72 - Delhi Value Added Tax

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI

OFFICE OF THE COMMISSIONER, VALUE ADDED TAX

VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002

No. F.7(239)/P-I/05/VAT/2009/860-72

Dated : 25/10/2011

NOTIFICATION

WHEREAS the Commissioner, Value Added Tax, Department of Trade and Taxes, Govt. of the National Capital Territory of Delhi, being of the opinion that it is expedient in the interest of general public to do so;

Now, therefore, in exercise of the powers conferred under sub-rule (2) of Rule 31 of the Delhi Value Added Tax Rules, 2005, read with sub-rule 4(b) of Rule 2 of the said Rules and section 36 of the Delhi Value Added Tax Act, 2004, the Commissioner, Value Added Tax hereby notifies Central Bank of India and its branches located in the NCT of Delhi, in addition to the banks already notified, as the appropriate Government Treasury for the purpose of deposit of all Value Added tax dues in relation to a dealer who is or is liable to be registered under Delhi Value Added Tax Act, 2004.

This notification is subject to the fulfillment of following conditions by the aforesaid bank in addition to the guidelines issued by the Reserve Bank of India on this subject.

1. That the funds shall be remitted to the Value Added Tax Account with Reserve Bank of India, Parliament Street, New Delhi within three days or such shorter period as notified by the RBI from time to time.

2. That interest shall be levied on delayed remittance, calculated at the latest ‘bank rate plus 2%’, as notified by Reserve Bank of India from time to time. Interest will be calculated for the period starting from the date of the receipt, as per challan in case of cash/transfer transaction or date of realization of cheque in case of clearing instruments by the receiving branch to the date preceding the date of settlement by the bank Link Cell with Reserve Bank of India Office.

3. That the tax shall be collected through on-line computerized counters for which software shall be developed/modified as per specifications issued by the Department from time to time. The software should generate all types of MIS reports required by the Department. The collection data shall also be sent to the Department in an electronic form in the mode, frequency and structures as prescribed by the Department.

4. That it shall be mandatory on banks to accept all tax payments of any denomination, in any of its authorized branches irrespective of the dealer having account with the bank or not.

For payment of VAT related dues electronically, as per power conferred under Sub Rule (5) of Rule 31 of DVAT Rules 2005, it is also prescribed that all dealers having tax period as a month or a quarter shall make payment of their tax, interest, penalty or any other amount due under the DVAT Act, 2004 compulsorily through electronic mode of payment from the ‘e’-payment portal of the Bank w.e.f.15.10.2011.

Terms and conditions for ‘e’-payments as contained in Notification No.F.7(400)/Policy/VAT/2011/641-654 dated 05.09.2011 shall also be applicable to the dealers making payments of their VAT related dues from the ‘e’-payment portal of Central Bank of India.

Central Bank of India shall adhere to the security and other provisions of Information Technology Act, 2000.

This notification shall come into force with immediate effect.

By order and in the name of

the Commissioner, VAT,

Department of Trade And Taxes,

National Capital Territory of Delhi

(U. K. Tyagi)

Spl. Commissioner (Policy)