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TMI BlogOVER THE COUNTER PAYMENT THROUGH AUTHORIZED BANKSX X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the scrolling by e-FPBs of OTC payments in one scroll would be ensured. The authorized banks will be required to establish / upgrade their IT software for accepting GST receipts. 33. The following stakeholders will play a key role in establishing an effective OTC payment system in the proposed GST scenario: a) GSTN; b) Branches of Authorized Banks; c) e-FPBs of Authorized banks; d) e-Kuber of RBI; e) e- PAOs of Centre / e-Treasuries of State Governments; f) Pr. CCA, CBEC / Accountant General of the States; g) Tax authorities of Centre and States. Process involved in Over the Counter payment of GST through authorized banks: 34. Every tax payer who wants to avail the facility of OTC payment (only for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... even days within which payment is to be tendered. GSTN will inform the challan details including validity period to the CBS (Core Banking System) of the selected bank on a real time basis. 36. Upon successful saving of the challan details, the challan will be available on the dashboard of the taxpayer in downloadable/printable form. So the taxpayer can either download the challan form and print it offline or can print the challan directly from GSTN. If the payment is made by cheque or DD, the challan itself would have a disclaimer that the payment is subject to realization of cheque or DD. 37. Thereafter taxpayer will approach the branch of the authorized bank for payment of taxes along with the instrument or cash. Since the tax payer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that those banks need not operate a GST pool account which can credit the amount in the respective tax accounts on the fly . 38. There should be a linkage between the GSTN and the Core Banking System (CBS) of the authorized banks whereby the details of challan are shared with the Authorized bank selected by the tax payer on real time basis so that they can be stored in the database of banks and also to facilitate the cashier / Teller to verify the details of the challan submitted by the remitter. This will eliminate the need for manual feeding of the challan details by the cashier / Teller in the banking system and thereby reduce the errors in data processing. 39. The taxpayer should preferably carry two copies of the challan, one fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of cash payments or same bank instruments, the payment would be realized immediately and a transaction number (BTR/BRN) and CIN will be generated immediately at the authorized bank s system which will be unique for each and every transaction. Such successful transactions shall be intimated to GSTN on real-time basis with details similar to those mentioned in para 21 above. This message will convey to the common portal that the payment has been successfully received at the bank s counter. 42. After generation of BRN, the bank cashier may give a printed receipt from his system including the Bank s transaction number (BTR/BRN) and CIN. However, if it not found feasible to print a separate receipt, the cashier should record the BRN and C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a) CPIN; b) GSTIN; c) Challan Amount; d) Bank s acknowledgement number. On receipt of the above first message, GSTN should send a SMS to the tax payer, in addition to showing the status of the payment on its portal as subject to realization. 47. The bank s system would send a second message to GSTN once the cheque is realized, the total amount is credited first to GST pool account and thereafter the funds are credited to the respective tax accounts as per CPIN data (as stated in para 34 above, GST pool accounts are not required to be maintained by those banks who can credit the amount in the respective tax accounts on the fly ). On the day of realization, it will become a successful transaction to be reported to RBI on T+1 ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onal stakeholder in this mode, namely Branch of Authorized bank that receives the remittances and its role is discussed below. Branch of Authorized bank: 51. Being the first point of contact for the remittance by the taxpayer, the branch of the Authorized bank receiving the payment will play a key role in the accounting and reconciliation of data with GSTN. It will perform the following functions: a) Accept the payment only through the customized GST software/screen in its system. b) Provide an acknowledgement to the tax payer; c) Send the instrument (if pertaining to another bank) to the clearing house for realization and record the result in the IT system as and when the response is received. Such recording should be s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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