Corporation Bank allowed to collect central excise, service tax

Our Banking Bureau
15 September 2003

Bangalore: The Central Board of Excise and Customs (CBEC) has nominated Corporation Bank to collect central excise and service taxes in the Bangalore Commissionerate II region.

The regions falling under this commissionerate include Bangalore Cantonment, Yelahanka, Doddabalapur, Tumkur, Chitradurga, Davangere Harihar and Rannebennur. Branches located in these regions will collect the taxes.

The bank was already collecting these taxes in the Mangalore Commissionerate since 2001 and in the Dakshina Kannada district on behalf of the department.

CBEC officials had conducted a workshop to train personnel of Corporation Bank''s branches on the procedural aspects of tax collection and their subsequent remittance to the government with speed and accuracy.

The bank has already been collecting direct taxes on behalf of the government since March 2000 at 270 branches across India. Further, the bank also handled the pension payments for retired personnel of both the central and state government in more than 400 branches all over the country.