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of <h1>New Circular: Banks Must Reject Tax Payments Missing Assessee Code on G.A.R.7 Challan Effective January 22, 2008.</h1> The circular addresses the poor data quality in the Electronic Accounting System in Central Excise & Service Tax (EASIEST), noting that 45% of challans lack the mandatory assessee code. Banks are instructed not to accept payments without this code on the G.A.R.7 challan. Procedures are outlined for verifying the assessee code, including checking directories and the NSDL-EASIEST website. If codes are missing, banks must request additional documentation from taxpayers. Effective January 22, 2008, records without valid assessee codes will not be accepted. Banks must update their directories regularly and publicize the availability of the G.A.R.7 Challan online.
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