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of <h1>Syndicate, Corporation, and Indian Banks Authorized to Collect VAT Under Delhi Value Added Tax Rules, 2005</h1> Certain banks, including Syndicate Bank, Corporation Bank, and Indian Bank, have been authorized to collect Value Added Tax (VAT) in Delhi. This authorization is under the Delhi Value Added Tax Rules, 2005, and requires these banks to remit funds to the Reserve Bank of India within three days of cheque realization. Interest will be charged on delayed remittances, and tax collection must be facilitated through online computerized counters. Banks must accept tax payments at any authorized branch, regardless of whether the dealer holds an account with them. The notification is effective immediately.
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