Para 14.2.10 — CAM

14.2.10.1 PROCESS FLOW OF ACCOUNTING

(a) GSTN provides digitally signed CPINs, created by the tax payers, at every 5-minute interval to the Central Accounting System (ARPIT).

(b) On payment by the tax payer, the authorized banks, after crediting Government account, generates CIN and shares the digitally signed CIN with GSTN.

(c) GSTN provides CIN data (containing only Major Heads) digitally signed by the Banks at five minutes’ interval to ARPIT.

(d) GSTN provides a consolidated EOD (End of Day) CPIN file to ensure that all CPINs have been received by Accounting Authority (for reconciliation).

(e) The GSTN provides a consolidated EOD (End of Day) CIN file (containing Major as well as Minor Heads) to ensure that all CINs have been received by Accounting Authority (for reconciliation).

(f) On receipt of the banks’ digitally signed CIN data through GSTN, the CIN is matched with the corresponding CPIN. The accounting entries are made based on the minor head-wise details available in the CPIN i.e. Debiting Major Head 8658-Suspense Accounts-‘108-Public Sector Banks Suspense’ or ‘138-Other Nominated Bank (Private Sector Banks) Suspense’ as the case may be, and Crediting the duty/tax heads concerning GST.

(g) The O/o Pr. CCA CBIC accounts for CGST, IGST, GST Compensation cess and UTGST (Union Territory-Without Legislature) heads only. The SGST and other UTGST amounts are accounted by the respective States and UTs Governments.

(h) The banks send a luggage file containing CIN wise details of all collections of the day to RBI on T+1 day for settlement. The EOD time for the banks is 8.00 pm. The collection details of previous day 8.00 pm to current day 8.00 pm are sent in the luggage file.

(i) RBI will receive bank luggage file from all authorised banks before 6:00 PM on T+1. Consequently it will debit Authorized bank’s account and correspondingly credit the indirect tax account of Government of India maintained in RBI.

(j) On T+1day, RBI based on the luggage file received from the banks, provides digitally signed e-scrolls (Major Head-wise) on hourly basis. The e-scrolls from RBI contain settlement made by the banks (i.e. collections made by the banks on the previous day) and the NEFT/RTGS transactions of RBI of the same day.

(k) The transaction (CIN) wise e-scroll is matched with the CPIN and CIN received already in the system and the following accounting entry is made for the matched transactions:-

What This Means

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Key Points

• 1GSTN sends CPINs (challan intent) to ARPIT at 5-minute intervals for accounting
• 2Banks generate CIN (payment confirmation) and share with GSTN, which forwards to ARPIT
• 3Accounting: CIN matched to CPIN, booked under PSB Suspense (debit) and Tax heads (credit)
• 4RBI e-scrolls on T+1 day clear PSB Suspense against Reserve Bank Deposits
• 5Four types of mismatches (Invalid CIN, Missing CIN, amount more/less) resolved through electronic MoE

Practical Example

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Frequently Asked Questions

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.