Electronic Focal Point Branch centralizes GST collections through a designated bank branch; central settlement acts as E-FPB for NEFT/RTGS. Electronic Focal Point Branch (E-FPB) is a single nominated branch of an authorized bank designated to collect GST payments nationwide; it must open and maintain separate major head accounts for central, integrated and state/UT taxes, and any amount received is credited to the appropriate account. For electronic interbank transfers via NEFT/RTGS, the central banking settlement entity functions as the E-FPB to receive and route funds into the corresponding government accounts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Electronic Focal Point Branch centralizes GST collections through a designated bank branch; central settlement acts as E-FPB for NEFT/RTGS.
Electronic Focal Point Branch (E-FPB) is a single nominated branch of an authorized bank designated to collect GST payments nationwide; it must open and maintain separate major head accounts for central, integrated and state/UT taxes, and any amount received is credited to the appropriate account. For electronic interbank transfers via NEFT/RTGS, the central banking settlement entity functions as the E-FPB to receive and route funds into the corresponding government accounts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
