Mandatory e-Payment of Service Tax by large taxpayers : Proposed interim accounting arrangement for e-Payment collection.

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..... 2006 Sub : Mandatory e-Payment of Service Tax by large taxpayers : Proposed interim accounting arrangement for e-Payment collection. Kindly refer to our telephonic conversation on the subject dated 03.10.2006. With the introduction of mandatory e-Payment for high value Service Taxpayers, the ned for eliminating the concept of designated banks for collection of tax through e-Payment arose. .....

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..... ll. 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 made for the Commissionerate that the not covered for physical collection will be collated at a branch in Delhi (Such CBS branch will be identified by the bank) for scrolling. The branch so identified will prepare hard cop .....

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..... ounts offices against each Commissionerate Code will be provided to the banks to enable correct distribution of stamped and receipted challans as above. The above proposed procedure will allow revenue reconciliation and bank reconciliation with out any deviation from the existing procedure till the Electronic Accounting Solution is put in place and stabilized. (V.N. Kaila) Pr. Chief Cont .....

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