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RECONCILIATION OF RECEIPTS

Para 10 - Draft-Bills-Reports - Business Processes for GST - Payment - Goods and Services Tax - Para 10 - : 97. Well-developed and stabilized IT systems without manual process discontinuities in banks, RBI and common portal should eliminate/reduce po .....

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n phase, some errors may be seen due to problems external to the IT systems, e.g., in the public network used for sharing the data. A process and standard operating procedure for handling the errors, if they arise, will have to be established, as mul .....

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vernment. This shift is aimed at establishing a convenient, consistent and efficient payment process for the tax payers as well as for the 37 governments simultaneously. This shift is possible in view of current IT capabilities in the eco-system and .....

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orrectness for its contents, as filled in by the taxpayer. b) The challan thus generated on GSTN portal will provide a unique Id (CPIN) which would be used uptill the time payment has been received by the bank and CIN (CPIN plus Bank Code) has been g .....

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any agency in their part of the workflow. d) Any agency handling the payment process will merely add its unique Id and parameter to the basic data received by it from another agency earlier in the work-flow chain, and thereafter pass on the data to t .....

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agencies whereas RBI will have the primary anchor s role in relation to funds flow, information flow about receipts and correction of discrepancies noticed during reconciliation process. g) e-Scroll from RBI will be the basis for accounting, reconci .....

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