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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
OFFICE OF THE COMMISSIONER OF
CENTRAL EXCISE
CHENNAI-III-COMMISSIONERATE
121, Mahatma Gandhi Road, Nungambakkam, Chennai600034.
SERVICE TAX TRADE
NOTICE NO.8/2001 Date:
19/07/2001
Sub.: Service Tax Payment of
Service Tax by Cheque -
Consequences of
delay in encashment - Reg.
A copy of Director General of Service
Tax, Mumbai's Telex dated 16.07.2001 issued under F.No.V/DGST/MISC/30-Misc-46/2000
is communicated for information, guidance and necessary action.
This office Service Tax Trade Notice
No.5/2000 ST dated 11.09.2000 communicating DGST's letter dated 23.08.2000 may
be treated as withdrawn.
(Issued from File C.No.IV/16/304/2001
S.Tax-Part I)
Sd/-------------
(V.M. BASHEER
AHMED)
ASSISTANT
COMMISSIONER
CHENNAI III
Encl,: As above.
To
As per mailing list (Both Trade
& Dept)
COPY OF DGST'S TELEX DATED 17.07.2001
FROM
M.G. VENUGOPALAN, DGST, MUMBAI.
TO ALL CHIEF COMMISSIONERS/COMMISSIONERS OF
C.EX.
COPY
TO :
SHRI. S.C.BHATIA, U.S. CX.4, CBEC, NEW DELHI.
F.NO.V/DGST/MISC/30-MISC-46/2000
DATED 16.07.2001
PLEASE
REFER TO DIRECTORATE'S LETTER OF EVEN NUMBER DATED 23.08.2000 REGARDING PAYMENT
OF SERVICE TAX BY CHEQUE IN AUTHORISED BANKS - CONSEQUENCES OF DELAY IN
ENCASHMENT BEYOND DUE DATE.
BOARD
HAS NOW CLARIFIED UNDER ITS LETTER F.NO.137/10/2000 CX.4 DATED 16.07.2001 THAT
AS PER RBI INSTRUCTIONS, WHEN THE PAYMENT IS MADE EITHER IN CASH OR BY THE
DEMAND DRAFT, IMMEDIATE CREDIT HAS TO BE TAKEN. WHEN A CHEQUE IS TENDERED, THE MONEY STILL REMAINS IN ASSESSEE'S
ACCOUNT AND IS NOT TRANSFERRED TO THE BANK.
WHEN THE CHEQUE IS CLEARED BY THE CLEARING HOUSE OF THE BANK, THE MONEY
GETS DEPOSTED IN THE BANK. TILL THE
DATE OF CLEARANCE THE MONEY IS NOT CREDITED TO THE DESIGNATED BANK. I.E. THE MONEY IS NOT CREDITED TO THE
GOVERNMENT OF INDIA ACCOUNT AS PROVIDED UNDER RULE 6 OF SERVICE TAX RULES. IN VIEW OF THIS, THE PAYMENT OF DUTY BY
CHEQUE MAY NOT BE TREATED AS DISCHARGE OF DUTY BY DUE DATE UNLESS THE CHEQUE IS
ENCASHED AND THE AMOUNT IS CREDITED IN THE ACCOUNT OF GOVT. OF INDIA.
ALL
COMMISSIONERS ARE REQUESTED TO FOLLOW THE BOARD'S CLARIFICATION MENTIONED ABOVE
IN REGARD TO PAYMENT OF SERVICE TAX BY CHEQUE.
THEY MAY ALSO ISSUE SUITABLE REVISED TRADE NOTICES IN THE MATTER.
THE
DIRECTORATE'S LETTER OF EVEN NO. DATED 23.08.2000 IS HEREBY WITHDRAWN.
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