How to reduce errors in GST payments by IT system of authorized banks

 

 

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How to reduce errors in GST payments by IT system of authorized banks


How to reduce errors in GST payments by IT system of authorized banksThis communication is not meant to be the basis for accounting, but act as an enabler to reduce errors in the overall process and to facilitate fleet-footed monitoring by the Tax Authorities. The IT system of the authorized banks should have the following validations to reduce possibility of discrepancies in this leg:-

 

a) In any reporting of successful transactions by the banks to GSTN, CPIN field is never a blank;

 

b) The response sent back to GSTN is always against a CPIN received from GSTN;

 

c) Sum total of all credits to Tax accounts for a particular CPIN adds up to the challan amount.

 

d) CIN reported by the authorized banks/RBI should always have a CPIN embedded in it.

 

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