(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI OFFICE OF THE COMMISSIONER OF VALUE ADDED TAX BIKRI KAR BHAWAN : I.P. ESTATE : NEW DELHI-02 No.F.27(95)/2001/P/639-51 Dated : 20/4/2005 NOTIFICATION No.F.27(95)/2001/P/639-51 : In pursuance of letter No. DGBA : GAD : No. 229 /
42.01.001 / 2003-04 dated August 29, 2003; and DGBA : GAD : No. 790 / 42.04.002 / 2003-04 dated January 13, 2004 and DGBA : GAD : No. 42.04.002 / 2004-05 dated
19.10.2004 of Reserve Bank of India. Department of Government and Bank Accounts and the approval of the CGA, Govt. of India, Ministry of Finance conveyed by the DCA (Tech) Principal Account Office, Govt. of NCT of Delhi vide No. F.PrAO/CAM/03/TII 04/1147 dated 2.8.2004 and In exercise of the powers conferred vide Sub Rule (2) of Rule 31 of the Delhi Value Added Tax Rules, 2005, I R.K. Verma, Commissioner of Value Added Tax, do hereby notify banks mentioned herein below and its branches within the Union Territory of Delhi shall be the appropriate Government Treasury for the purpose of deposit of all sales tax and Value Added Tax dues in relation to a dealer who is or is liable to be registered under the Delhi VAT Act, 2004:
1) State Bank of India 2) Union Bank of India 3) Canara Bank 4) Bank of Baroda 5) Punjab & Sind Bank 6) Indian Overseas Bank 7) IDBI Bank Ltd.
8) UTI Bank Ltd.
9) HDFC Bank 10) ICICI Bank Ltd.
This notification is subject to the fulfillment of following conditions by the aforesaid banks in addition to the guidelines issued by the Reserve Bank of India on this subject:
1. That the funds shall be remitted to the Sales 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 again after 30.06.2005 in terms of the capability of the banks 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 banks to accept all sales tax payments of any denomination in any of its authorized branches irrespective of the dealer having account with the bank or not.
This notification shall come into force with effect from 1.4.2005.
(R.K. VERMA) COMMISSIONER VAT : DELHI No.F.27(95)/2001/P/639-51 Dated : 20/4/2005 Copy forwarded for information and necessary action to :-
(1) The Pr. Secretary (GAD), Govt. of NCT of Delhi with one spare copy for its publication in Delhi Gazette Part-IV.
(2) The Secretary, Govt. of India, Ministry of Finance, Deptt. of Revenue, Jeevan Deep Building, New Delhi.
(3) The Secretary, Govt. of India, Ministry of Home Affairs, North Block, New Delhi
(4) The Secretary to Finance Minister, GNCT of Delhi, Delhi Sachivalaya, I.P.
Estate, New Delhi
(5) The Dy. Controller of Accounts (Tech) Principal Accounts Office, Govt. of NCT of Delhi with reference to his letter No. PrAO/CAM/03/TII/04/1117 dated 2.8.2001
(6) The Manager, EDP Cell to work out the modalities of Net Banking Facilities to dealers at the earliest.
(7) The Deputy Secretary Finance (E II) with reference to their UO No.34657/PST dated 31.3.04.
(8) The Registrar, Sales Tax Appellate Tribunal, Bikri Kar Bhawan, I.P. Estate, New Delhi
(9) The Deputy Secretary (L&J), Govt. of NCT of Delhi, Delhi Sachivalaya, New Delhi
(10) Dy. General Manager, Reserve Bank of India, 4 th Floor, Byculla Office Building, Opp. Mumbai Central Station, Byculla, Mumbai-400 008 with reference to their letter No. DGBA/GAD No. 790/42.04.2002/03-04 dated Jan 13, 2004.
(11) President, Delhi Sales Tax Bar Association.
(12) All Banks concerned
(13) Guard file.
(R.K. VERMA) COMMISSIONER VAT : DELHI