Other provisions
Rule 11
GST
Goods and services Tax Settlement of funds Rules, 2017.
Goods and services Tax Settlement of funds Rules, 2017.
11. Other provisions.-
(1) Issue of provisional sanction order for each month- (a) The Principal Chief Controller of Accounts shall maintain a login based Centralized Accounting portal which shall be accessible to State accounting authorities, Central Board of Excise and Customs and State taxation authorities.
(b) on the receipt of above ledgers, the Principal Chief Controller of Accounts shall calculate the net payment to be made from Integrated Goods and Services Tax account to each State or vice versa and shall upload a State-wise summary of the same on the Centralized Accounting portal within three working days of receipt of the data from Goods and Services Tax Network. Thereafter based on uploading of this data a provisional sanction order for the month shall be issued by Department of Revenue as per the procedure laid down i
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h.
(c) Based on the revised calculation received from Goods and Services Tax Network and after having reconciled the discrepancy referred to in sub clause (a) and (b), in case any changes have been made with respect to any State, the Principal Chief Controller of Accounts shall calculate the net payment to be made from Integrated Goods and Services Tax account to each State or vice versa and shall upload a final Statewise summary of the same on the Centralised Accounting portal within three days of receipt of the revised data from Goods and Services Tax Network and based on uploading of this data a final sanction order for the month shall be issued by Department of Revenue as per the procedure laid down below-
(i) the Centralized Accounting Portal of Central Accounting Authority shall be used by the Department of Revenue, Ministry of Finance to download the details of the State-wise fund settlement with States.
(ii) a designated officer in the Department of Revenue shall issue the
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sed system.
(vii) as the sanction letter will also contain the details of settlement, it shall be available in records of State Government for future reconciliation and audit purposes.
(viii) State Governments shall come to know about the fund being transferred by Centre through the sanction.
(ix) Copy of sanction shall also be endorsed to concerned State Accountant General.
(x) The Central Accounting Authority shall generate an Inter Government Advice on the basis of Sanction received from Department of Revenue and send it to Reserve Bank of India [Central Accounts Section, Nagpur] electronically within three days of issue of sanction order.
(xi) Reserve Bank of India shall make the necessary fund settlement between the Consolidated Fund of India and the Consolidated Fund of States of the respective State, on the basis of electronic Inter Government Advice; generate the 'Clearance Memo' and transmit the same to Central Accounting Authority and State Accounting Authorities an
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