Rule 117 — GFR

Rule 117 Crucial date for closure of Inter- Governmental adjustments. Inter- Governmental adjustments can be carried out upto the [10th of April or the date as specified by office of Controller General of Accounts in consultation with Reserve Bank of India from time to time]1 on which date the books of the Reserve Bank are closed for the month of March. Every endeavour must, therefore, be made to settle as far as possible all transactions with State Governments before the close of the year.