Page 59 - BANKING FINANCE APRIL 2024
P. 59
RBI CIRCULAR
RBI
CIRCULAR
Cut-off time for uploading of GST, 3. All other instructions of the said Master Circular remain
unchanged.
ICEGATE and TIN 2.0 luggage files
March 13, 2024 Reporting and Accounting of Central
1. Please refer to para 10 on Reporting of transactions Government transactions for March 2024
by agency banks to RBI of Master Circular on Conduct March 13, 2024
of Government Business by Agency Banks - Payment of
Agency Commission dated April 1, 2023. 1. Please refer to Circular DGBA.GBD.No.S1469/42-01-
029/2022-2023 dated March 16, 2023 advising the pro-
2. It has been noticed that several agency banks have
cedure to be followed for reporting and accounting of
been requesting RBI for extension of time for upload-
Central Government transactions (including CBDT,
ing of luggage files pertaining to GST, ICEGATE and TIN
2.0 receipts beyond the cut-off time of 1800 hours pre- CBIC, Departmentalized Ministries and Non-Civil Min-
scribed by O/o Principal Chief Controller of Accounts, istries) at the Receiving/Nodal/Focal Point branches of
Central Board of Indirect Taxes & Customs and O/o your bank for the Financial Year 2022-23.
Principal Chief Controller of Accounts, Central Board of 2. The Government of India has decided that the date of
Direct Taxes. In this regard, it is advised that no exten- closure of residual transactions for the month of March
sion will be granted by RBI beyond the cut-off time for 2024 be fixed as April 10, 2024. In view of the ensuing
submission of luggage files as per extant guidelines is- closing of Government accounts for the financial year
sued in this regard. Accordingly, the modified paragraph 2023-24, receiving branches including those not situ-
10 will read as follows: ated locally, should adopt special arrangements such
as courier service etc., for passing on challans/scrolls
10. Reporting of transactions by agency banks to RBI:
After the operationalisation of NEFT 24X7 and RTGS etc., to the Nodal/Focal Point branches so that all pay-
24X7, agency banks authorised to collect Goods and ments and collections made on behalf of Government
Service Tax (GST), Custom and Central Excise Duties towards the end of March are accounted for in the
(ICEGATE) and Direct Taxes under TIN 2.0 channel shall same financial year. These instructions regarding spe-
upload their luggage files in RBIs QPX/e-Kuber on all days cial messenger arrangements may please be informed
to all branches concerned.
except the Global holidays, which are January 26, Au-
gust 15, October 2, all non-working Saturdays, all Sun- 3. As regards reporting of March 2024 transactions by
days and any other day declared holiday by RBI for Gov- Nodal/Focal Point branches in April 2024, the branches
ernment Transactions due to exigencies. It is to be en- may be advised to follow the procedure as outlined in
sured that these luggage files are uploaded in RBIs QPX/ the Annex. To sum up, the nodal/Focal Point branches
e-Kuber on or before 1800 hours prescribed by O/o Prin- will be required to prepare separate set of scrolls, one
cipal Chief Controller of Accounts, Central Board of Indi- pertaining to March 2024 residual transactions and an-
rect Taxes & Customs and O/o Principal Chief Controller other for April transactions during the first 10 days of
of Accounts, Central Board of Direct Taxes. No exten- April 2024. The Nodal/Focal Point branches should also
sion in cut-off time will be allowed to agency banks by ensure that the accounts for all transactions (revenues/
RBI beyond 1800 hours for uploading of these luggage tax collections/payments) are effected at the receiving
files in QPX/e-Kuber. branches up to March 31, 2024 in the accounts for the
BANKING FINANCE | APRIL | 2024 | 53
