The role of RBI under GST tax payments

 

 

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The role of RBI under GST tax payments


The role of RBI under GST tax paymentsOnce the remittances are received by RBI, it will perform the following functions:

 

a) RBI will receive and validate the NEFT/RTGS transaction against the Challan details received by it;

 

b) RBI would communicate the receipt of payment (CIN) to GSTN on real time basis;

 

c) On first day of every month, RBI as e-FPB will provide Datewise Monthly Statements (DMS) for each tax and government separately to the concerned wing of RBI for the preceding month with following details:

 

i) Name of Tax;

 

ii) Government Name;

 

iii) Date wise number of successful transactions and total credit reported to RBI; and

 

iv) List of discrepancies remaining unresolved at the end of the report month (MOE UIN, CIN, BRN, Amount, Nature of discrepancy).

 

These statements will be simultaneously communicated to accounting authorities of the Centre and the respective States in case their accounting authorities so desire.

 

d) RBI will also be responsible for incorporating these payment details in their daily master scroll generated by them as an aggregator for amounts received through Mode I and II.

 

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