Certain banks have been authorized to collect VAT through this Notification - F.27(95)/2001/P/998 - Delhi Value Added Tax

VAT collection authorization designates banks as government treasury for tax deposits subject to remittance, interest, software, and acceptance requirements.

Banks listed are designated as the appropriate Government Treasury for deposit of sales tax and VAT dues under the Delhi VAT Rules. This designation is subject to conditions: remittance of funds to the VAT account at the Reserve Bank within three days of realization with same day collection reports; levy of interest on delayed remittance at bank rate plus two percent; implementation of on line computerized counters and department specified software for electronic reporting and MIS; and mandatory acceptance of tax payments at any authorized branch irrespective of the payer's account relationship.