Branch of Punjab & Sind Bank at Bikrikar Bhawan, New Delhi authorized to accept Sales Tax, Value Added Tax and Central Sales Tax - F.27(95)/2001/P/1309 - Delhi Value Added Tax

Branch of Punjab & Sind Bank at Bikrikar Bhawan, New Delhi authorized to accept Sales Tax, Value Added Tax and Central Sales Tax

GOVERNMENT OF NATIONALCAPITALTERRITORY OF DELHI

DEPARTMENT OF TRADE & TAXES

BIKRI KAR BHAWAN: I.P.ESTATE: NEW DELHI-02

No. F.27(95)/2001/P/1309

Date : 22.07.2005

NOTIFICATION

No. F.27(95)/2001/P/1309 : In exercise of the powers conferred by clause (b) of sub-rule (4) of rule 2 read with sub rule (2) of rule 31 of Delhi Value Added Tax Rules, 2005, I R.K. Verma, Commissioner of Value Added Tax, do hereby notify the Branch of Punjab & Sind Bank at Bikri kar Bhawan, New Delhi for acceptance of Sales Tax, Value Added Tax and Central Sales Tax in respect of unregistered dealers within the Union Territory of Delhi, as the appropriate Government Treasury.

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 (including holidays) from the date of realization of cheques, etc and the collection report would also be given at the end of the same day. However, the remittance schedule would be reviewed in due course in terms of the capability of the Bank to reduce this period below three days and ensure remittances on a day-to-day basis.

2. That the 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 Offices.

3. That the tax shall be collected through on-line computerized counters for which software shall be developed 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 be also sent to the Department in an electronic form in the mode, frequency and structures prescribed by the Department.

4. That it shall be mandatory on Bank to accept all tax payments of any denomination irrespective of the dealer having account with the bank or not. The Bank will not refuse to accept the tax payment from any unregistered dealer on the ground that the dealer has not mentioned the TIN in the challan.

This notification shall come into force with immediate effect.

 

(R.K. Verma)

COMMISSIONER (Value Added Tax)

Notes : 

1. Branch of Punjab & Sind Bank at Bikrikar Bhawan, New Delhi authorized to accept Sales Tax, Value Added Tax and Central Sales Tax