What changed
The Government of India fixed April 15, 2013 as the closure date for residual March 2013 transactions, replacing the previous year's date. Banks are instructed to close books on that date and implement special arrangements from the second fortnight of March 2013 to expedite challan/scroll transmission. Nodal/Focal Point branches must now prepare separate scroll sets for March residual and April transactions during the first 15 days of April.
What it means for you
Agency banks must ensure all government dues collected by March 31, 2013 are accounted in FY 2012-13, not mixed with April 2013 transactions. This requires tight coordination between receiving and nodal branches, especially for non-civil ministries (Defence, Posts, Railways, Telecom). Failure to segregate could lead to misreporting and reconciliation issues with government accounts.
What you must do
- Instruct all receiving branches to clear arrears before March 15, 2013 and use special messenger/courier from second fortnight of March 2013.
- Direct Nodal/Focal Point branches to prepare separate scrolls for March residual transactions and April transactions daily from April 1-15, 2013.
- Ensure all March 2013 transactions are accounted in FY 2012-13 books and not mixed with April 2013 entries.
- Issue immediate circular to branches handling non-civil ministries (Defence, Posts, Railways, Telecom) to follow the same procedure.
Who it affects
All agency banks handling government tax collections (CBDT, CBEC), Branches dealing with Departmentalised Ministries accounts, Branches handling Non-Civil Ministries (Defence, Posts, Railways, Telecommunications), Nodal/Focal Point branches responsible for reporting
What is the deadline for closing residual March 2013 transactions?
April 15, 2013 is the closure date for residual March 2013 transactions. Banks must close their books on that date.
How should receiving branches handle challans in late March?
From the second fortnight of March 2013, receiving branches must use special messenger (if local) or courier (if non-local) to pass challans/scrolls to Nodal/Focal Point branches promptly.
Does this apply to non-civil ministries like Defence and Railways?
Yes, the same special arrangements and reporting procedure apply to transactions of Defence, Posts, Railways, and Telecommunications ministries.