Scheme for Collection of Dues of (i) Central Board of Direct Taxes (ii) Central Board of Excise and Customs (iii) Departmentalised Ministries Account

Scheme for Col­lec­tion of Dues of (i) Cen­tral Board of Direct Tax­es (ii) Cen­tral Board of Excise and Cus­toms (iii) Depart­men­talised Min­istries Account — Report­ing and Account­ing of March Trans­ac­tions — Spe­cial Arrange­ments — Finan­cial Year 2014–15

Please refer to Cir­cu­lar DGBA.GAD.No.H — 5495/42.01.029/2013–14 dat­ed March 27, 2014 advis­ing the pro­ce­dure to be fol­lowed for report­ing and account­ing of col­lec­tion of Direct Tax­es (CBDT) and Indi­rect Tax­es (CBEC) and trans­ac­tions of Depart­men­tal­ized Min­istries at the Receiving/Nodal/Focal Point branch­es of your bank for the Finan­cial Year 2013–14.

2. The Gov­ern­ment of India has decid­ed that the date of clo­sure of Resid­ual Trans­ac­tions for the month of March 2015 be fixed as April 15, 2015 for the Finan­cial Year 2014–15.

3. In view of the ensu­ing clos­ing of gov­ern­ment accounts for the finan­cial year 2014–15, please reit­er­ate the instruc­tions to your branch­es regard­ing intro­duc­tion of spe­cial mes­sen­ger arrange­ments at your receiv­ing branch­es. Receiv­ing branch­es not sit­u­at­ed local­ly should also adopt spe­cial arrange­ments such as couri­er ser­vice etc. for pass­ing on challans/scrolls etc. to the Nodal/Focal Point branch­es so that all pay­ments and col­lec­tions made on behalf of gov­ern­ment towards the end of March are account­ed for in the same finan­cial year.

4. As regards report­ing of March 2015 trans­ac­tions by Nodal/Focal Point branch­es in April, the branch­es may be advised to fol­low the pro­ce­dure as out­lined in the Annex. To sum up, the Nodal/Focal Point branch­es will be required to pre­pare sep­a­rate sets of scrolls, one per­tain­ing to March Resid­ual Trans­ac­tions and anoth­er for April Trans­ac­tions dur­ing the first 15 days of April 2015. The Nodal/Focal Point branch­es should also ensure that the accounts for all trans­ac­tions (revenues/tax collections/payments) are effect­ed at the receiv­ing branch­es upto March 31, 2015 in the accounts for the cur­rent finan­cial year itself and are not mixed up with the trans­ac­tions of April 2015. Also, while report­ing trans­ac­tions per­tain­ing to March 2015 upto April 15, 2015, the trans­ac­tions of April 2015 should not be mixed up with “March Resid­ual Transactions.”

5. The pro­ce­dure now fol­lowed for report­ing and account­ing of trans­ac­tions of Non-Civ­il Min­istries viz. Defence, Posts, Rail­ways and Telecom­mu­ni­ca­tions (which was revised with effect from Octo­ber 1, 1993), is sim­i­lar to the pro­ce­dure for report­ing and account­ing of trans­ac­tions of Depart­men­talised Min­istries. The spe­cial arrange­ments for report­ing March trans­ac­tions by receiv­ing branch­es to Nodal/Focal Point branch­es and the pro­ce­dure for report­ing March 2015 trans­ac­tions in April 2015 by Nodal/Focal Point branch­es as indi­cat­ed in para­graphs 3 and 4 above are also applic­a­ble to the report­ing of trans­ac­tions of Non-Civ­il Min­istries. The branch­es of your bank han­dling the Non-Civ­il Min­istries trans­ac­tions, if any, may, there­fore, be advised to fol­low the above procedure.

6. Kind­ly issue nec­es­sary instruc­tions in the mat­ter to your branch­es con­cerned immediately.

Yours faith­ful­ly

(K. Gane­sha)
Deputy Gen­er­al Manager

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ANNEX

Report­ing of March Transactions

Begin­ning from April 1, 2015, the Nodal/Focal Point branch­es will seg­re­gate on a dai­ly basis all scrolls/challans per­tain­ing to March 2015 received from the receiv­ing branch­es con­cerned and pre­pare sep­a­rate main scrolls for:

1. scrolls for trans­ac­tions of March 2015 or ear­li­er peri­od (i.e. effect­ed dur­ing the pre­vi­ous finan­cial year 2014–15) and
2. scrolls per­tain­ing to cur­rent trans­ac­tions (i.e. those effect­ed from April 1, 2015 onwards).

2. The main scrolls for March 2015 trans­ac­tions pre­pared from April 1 to April 15, 2015 are to be dis­tinct­ly marked as March Resid­ual — 1, March Resid­ual — 2 and so on upto April 15, 2015. In oth­er words, ser­i­al num­ber should be allot­ted in con­sec­u­tive order for each main scroll of March 2015 trans­ac­tions sent from April 1 to April 15, 2015. These scrolls along­with the copies of dai­ly sum­ma­ry of Receipts and Pay­ments pre­pared sep­a­rate­ly for March 2015 trans­ac­tions will be for­ward­ed to the Depart­men­tal Offi­cials con­cerned (i.e. Zon­al Accounts Officers/Pay and Accounts Offi­cers and Des­ig­nat­ed Offi­cers) in the usu­al way. The Nodal/Focal Point branch­es will also be required to report the above trans­ac­tions to the Link Cell through sep­a­rate Dai­ly Mem­os. These advices must be sent to enable the Link Cell of each bank at Nag­pur, to make dai­ly set­tle­ment with Reserve Bank of India, Cen­tral Accounts Sec­tion (CAS) Nag­pur. On receipt of advices from the Nodal/Focal Point branch­es, the Link Cell should seg­re­gate the advices for the March Resid­ual trans­ac­tions and for­ward them sep­a­rate­ly to Reserve Bank of India, CAS, Nag­pur. This pro­ce­dure should con­tin­ue upto and inclu­sive of April 15, 2015 only. All trans­ac­tions report­ed there­after by the receiv­ing branch­es will be report­ed and account­ed for in the usu­al man­ner in the accounts of the month of report irre­spec­tive of the date of trans­ac­tion. Fol­low­ing the spe­cial arrange­ments for March 2015 trans­ac­tions, it is nec­es­sary for the Nodal/Focal Point branch­es to pre­pare two sets of DMS to be sub­mit­ted to Zon­al Accounts Officers/Pay and Accounts Offi­cers for March 2015 trans­ac­tions — one for trans­ac­tions upto March 31, 2015 and anoth­er for March Resid­ual Trans­ac­tions adjust­ed by Nodal/Focal Point branch­es with Reserve Bank of India, Cen­tral Accounts Sec­tion, Nag­pur, dur­ing April 1 to April 15, 2015.

Since the Nodal/Focal Point branch will also be report­ing the April 2015 trans­ac­tions per­tain­ing to year 2015–16 in addi­tion to March Resid­ual trans­ac­tions, month­ly state­ment for April trans­ac­tions should be com­piled and fur­nished to Zon­al Accounts Officers/Pay and Accounts Offi­cers in the usu­al way. In order to dis­tin­guish the April 2015 (year 2015–16) and March Resid­ual Trans­ac­tions, the state­ment per­tain­ing to March Resid­ual Trans­ac­tions should be clear­ly marked as “March Resid­ual Account”.

Note: As advised in our cir­cu­lar GA.NB.No.376/42.01.001/1995–96 dat­ed May 22, 1996 all the cheques/amounts real­ized on or before March 31, 2015 should be treat­ed as trans­ac­tions relat­ing to the cur­rent finan­cial year as “March 2015 or March Resid­ual Trans­ac­tions”, the report­ing of which may take place dur­ing the month of April (upto April 15, 2015). But if any cheque is ten­dered on or before March 31, 2015 and real­ized on or after April 1, 2015, it will be treat­ed as trans­ac­tion for the next finan­cial year as “April Trans­ac­tions”. Accord­ing­ly, the banks will pre­pare sep­a­rate scrolls for March 2015 and April 2015 (year 2015–16) transactions.