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GST receipts - Agency commission to banks - Mumbai office of RBI to settle all claims

Published: Nov 17, 2017

By TIOL News Service

MUMBAI, NOV 17, 2017: WITH respect to agency commission to be paid to banks in relation to GST receipts, the RBI has clarified that all such agency commission claims are to be settled at Mumbai Regional Office of Reserve Bank of India only and accordingly all agency banks, authorized to collect GST, are advised to submit their agency commission claims pertaining to GST receipt transactions at Mumbai Regional Office only.

The revised formats for claiming agency commission for all agency banks and separate and distinctive set of certificates to be signed by the branch officials and Chartered Accountants have been prescribed. These certificates would be in addition to the usual Certificate from ED / CGM (in charge of government business) to the effect that there are no pension arrears to be credited / delays in crediting regular pension / arrears thereof.

Normally, Agency banks are required to submit their claims for agency commission in the prescribed format to CAS Nagpur in respect of Central government transactions and the respective Regional Office of Reserve Bank of India for State government transactions.

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