Notification regarding notify of Kotak Mahindra Bank for deposit of all Value Added Tax dues in relation to a dealer. - F.7(239)/P-I/VAT/ 2009/507-519 - Delhi Value Added Tax

(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY)

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI

OFFICE OF THE COMMISSIONER, VALUE ADDED TAX

VYAPAR BHAWAN. I.P. ESTATE, NEW iDELHI-110002

No.F.7(239)/P-I/VAT/ 2009/507-519

Dated 24/08/2012

NOTIFICATION

No.F.7(239)/P-I/VAT/2009/507-519 -In exercise of the powers conferred under sub-rule (2) of Rule 31 of the Delhi Value Added Tax Rules, 2005, read with clause (b) of sub-rule 4 of Rule 2 of the said Rules and Section 36 of the Delhi Value Added Tax Act, 2004, I, Rajendra Kumar, Commissioner, Value Added Tax hereby notify Kotak Mahindra Bank located in the National Capital Territory 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 registered or is liable to be registered under the 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 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.

5. That the bank shall adhere to the security and other provisions of Information Technology Act, 2000.

Further, in exercise of the powers conferred under Sub Rule (5) of Rule 31 of the DVAT Rules, 2005, it is also prescribed that all registered dealers and those who are liable to be registered and contractees (TAN payment compulsorily through electronic mode of payment through the website of Department of Trade and Taxes (www.dvat.gov:in).

Salient features of e-payment scheme are enclosed 'at Annexure.

This notification shall come into force with immediate effect.

(RAJENDRA KUMAR)

COMMISSIONER, VALUE ADDED TAX

Annexure

SALIENT FEATURES OF THE ON-LINE PAYMENT

SCHEME (Through department's website-www.dvat.gov.in)

1. All dealers(TIN holder)/contractees (TAN holder) can make payment of tax/interest/penalty or other dues under Delhi Value Added Tax Act and/or Central Sales Tax Act through internet from the Department's website at any time from his saving/current account or from any other person's account, on his behalf.

2. User ID and password for filing return and initiating the payment will be provided by the department and the transaction ID and password for making the payment from the account will be provided by the concerned bank. Dealers already having User ID and password to access the department's website can use the same for payment also.

3. Challan may be printed after successful payment of the dues from the departmental website Check 19 digit Challan Identification Number (CIN) on the challan before printing the same and enclose copy of the challan after signing and stamping it, with the return of the tax period to which the payment pertains, at the time of filing the return with the Department of Trade and Taxes. Such challan will be accepted as proof of payment for the purpose of sub-rule 3 of Rule 28 of DVAT Rules, 2005.

4. Check the payment so debited from the account statement after transaction.

5. Pavements made between 8:00 PM to 8:00 am will be accounted in the next working day's payment while payment made between 8:00am to 8:00 pm on any working day will be accounted for the same day.

6. Payments made at any time on Sundays & holidays will be accounted in the next working day’s payment.