Special clearing arrangements in the last week of March, 2011 - Banks
Coord/1(5)/R.III/
Office of the
Pr. Chief Controller of Accounts
Central Board of Excise & Customs
A.G.C.R. Building, Ist Floor,
I.P. Estate, New Delhi.
Dt.03.2011
OFFICE MEMORANDUM
SUBJECT: - SPECIAL CLEARING ARRANGEMENTS IN THE LAST WEEK OF THE MARCH, 2011 AND PARTICULARLY ON THE LAST WORKING DAY OF CURRENT FINANCIAL YEAR.
In view of the closure of Govt. Accounts, for the current financial year (2010-11) and in order to ensure realization of amounts tendered on the last day of the financial year to the maximum possible extent. It has been decided that :
1. A special clearing by RBI/SBI/other agency banks be organised in the evening/night of 31.03.20111 so that all high value cheques tendered on 31.03.2011 are realized on the same day.
2. Assessees be asked to deposit the revenue on 31.03.2011 by way of local transfer cheque/DD/Payorder/RTGS/e-payment or cash to facilitate quick realization. In case of other branch/bank cheques, the deposit should preferably be made by 28th March, 2011.
3. Banks must suitably extend their working hours and ensure that no assessee is turned away from Bank without paying the tax on 31.03.2011.
4. Banks may also take independent initiative to contact and ensure timely deposit from high value assessees who are the regular customers of the Bank to ensure realization of the amount on 31.03.2011.
5. A press communique' may also be released by the banks for information of the public and tax payers in all leading dailies in English, Hindi/Vernacular, notifying the names of branches of banks in the respective town/cities which are designated to accept taxes, so that the pressure on banks is evenly distributed. The press communique' should be issued right from 28th March and thereafter be repeated. It should also state that in view of the expected rush, public may deposit taxes well before 31st March , 2011.
6. The Focal Point Bank Branches (FPB) may be instructed to send a report preferably on 1st April 2011 evening or positively by 4th April 2011 morning to their respective PAOs information pertaining to :
(i) Total amount of cheques major head wise scrolled at FPB on 31.03.2011.
(ii) Amount of tendered cheque major head wise which have been realized up to 31.03.2011 but not scrolled by FPB.
(iii) Amount of cheques tendered but not realized up to 31.03.2011.
7. As per para 12.1 of EASeR the e-Payments tendered on 31st March, even beyond the End of the Day cut-off time shall be treated as transactions pertaining to 31st March and shall not be scrolled as part of the next day’s transactions. i.e. the EOD for 31st March will be 12.00 Midnight and not 8.00 P.M.
8. All banks which scroll the challans on the same date as the date of tender will include in the scroll dated 31.03.2011 all the challans/collection received upto 12.00 Midnight of 31.03.2011.
(P.L. Sahu)
Controller of Accounts
Copy to:
ALL Public Sector Banks, HDFC Bank Ltd., ICICI Bank Ltd., UTI Bank Ltd.
The General Manager, Reserve Bank of India, Deptt. of Govt. & Bank Accounts, Central Office, Byculla Building, Opp. Mumbai Central Station, Mumbai - 400 008.
The General Manager, Reserve Bank of India, Central Accounts Section, Additional Office Building, East High Court Road, Nagpur - 440 001.
P.S. to Pr. CCA, CBEC, New Delhi.
P.A. to CCA, CBEC, New Delhi |
