Denotification of banks as tax collection agents requires remittance to central bank and compliance with data transmission guidelines. Denotification of specified banks as authorised treasuries for collection of VAT/ST/CST/Works Contract Tax from dealers under the Delhi VAT Act is ordered effective 30.9.2005; denotified banks must remit collected taxes to the Reserve Bank of India before 30.9.2005 to prevent revenue loss. The Reserve Bank of India is directed not to accept remittances from these banks after 30.9.2005 without departmental permission and is requested to implement electronic data transmission guidelines for tax collections and reporting.
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.
Denotification of banks as tax collection agents requires remittance to central bank and compliance with data transmission guidelines.
Denotification of specified banks as authorised treasuries for collection of VAT/ST/CST/Works Contract Tax from dealers under the Delhi VAT Act is ordered effective 30.9.2005; denotified banks must remit collected taxes to the Reserve Bank of India before 30.9.2005 to prevent revenue loss. The Reserve Bank of India is directed not to accept remittances from these banks after 30.9.2005 without departmental permission and is requested to implement electronic data transmission guidelines for tax collections and reporting.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
