Payment towards tax, interest, penalty, late fee to state govt can be made using old Rs 500 notes till Dec 15: West Bengal Tax Dept

Kolkata, Dec 1 (KNN) The Directorate of Commercial Taxes, West Bengal, has said that the industries can make certain payments to the state government using old Rs 500 currency notes till December 15, 2016.

However, OTC (over the counter) Challan needs to be generated through GRIPS, subject to usual guidelines of RBI for cash deposit.

In a communication to the MSME Associations, the West Bengal Directorate of Commercial Taxes has said that the Ministry of Finance, Department of Economic Affairs, Government of India, has said that old 500 rupee currency notes (demonitised) can be used for making payments towards any fees, charges, taxes or penalties, payable to the Central or State Governments including Municipal and local bodies.

In this regards, “…payment towards tax, interest, penalty, late fee under the WBVAT Act, WBST Act, CST Act, Entry Tax Act, Profession Tax Act, etc., can be made by using old 500 rupee currency notes by generating OTC (over the counter) Challan through GRIPS, subject to usual guidelines of RBI for cash deposit.”

It said such payments can be made until December 15, 2016. (KNN Bureau)