E-payment of taxes – accounting maze
The CBEC has an elaborate accounting system of the duties they collect. Bank codes, assessee codes, TR 6 challans, designated banks, focal point banks – all these are to ensure that money ultimately reaches the treasury properly. Now with e payment, some of the time tested procedures may have to silently die. The accounting department is to prescribe a new procedure and until then they want the following system to be followed.
(a) The banks offering e-Payment solution will be allowed to accept e-Payment for all Central Excise and Service Tax Commissionerates without the restriction of Commissionerate-wise authorization.
(b) However, for physical collection of CBEC revenue, banks will follow the existing restriction of authorized Commissionerates.
(c) For all authorized Commissionerates, banks through their "existing Focal Point Branches" will collate all physical payments and e-Payments for preparing the scroll. 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 are not covered for physical collection will be collated at a branch in Delhi
(e) Reporting to bank's link cell and fund settlement with Reserve Bank of India will be as per the existing procedure
PCCA No.EDP/e-Bank/2006-07/365 Dated : October 3, 2006