New Delhi, Mar 20 (KNN) Bank branches will remain open next weekend from March-29 to 31 for collection of tax.

While March-29 and 30 are Saturday and Sunday respectively, March-31 is the last day of financial year and is a public holiday in some places.

"The Chairperson, Central Board of Excise and Customs ( CBEC) has requested the Secretary Financial Services to issue instructions to have the banks open for full day on 29th, 30th and 31st March 2014 so that the efforts made for collections of revenue are reflected appropriately," an office memorandum said. 

According to CBEC, bulk of the revenue is received at the end of the month.
The banks need to facilitate electronic tax payment by assesses, it added.

The indirect tax collection target for the current fiscal was lowered by Rs 45,483 crore to over Rs 5.19 lakh crore by the government in the 2014 interim budget.

Of this, over Rs 1.75 lakh crore and Rs 1.79 lakh crore is to be mobilised from customs and excise duty collection and about Rs 1.65 lakh crore from service tax. (KNN/SD)