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of <h1>Punjab & Sind Bank in New Delhi Authorized to Collect Sales Tax and VAT; Immediate Implementation Required</h1> The Punjab & Sind Bank branch at Bikrikar Bhawan, New Delhi, is authorized to accept Sales Tax, Value Added Tax (VAT), and Central Sales Tax for unregistered dealers in Delhi. The bank must remit funds to the VAT Account at the Reserve Bank of India within three days of cheque realization and provide a collection report on the same day. Interest is charged on delayed remittances at the bank rate plus 2%. The bank must use online computerized counters for tax collection, develop specific software, and accept tax payments from any dealer regardless of account status or TIN inclusion in the challan. This notification is effective immediately.
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