Do you hear about Cyber Treasury? Are you interested in knowing what is meant by the Cyber treasury phrase? What are the different states Cyber treasuries followed? If you want to know about all these, this guide is best to get the information. Here, we will give the best knowledge about the topic. So, let’s get started.
Here’s What Is Cyber Treasury
Information technology has changed people’s lives beyond imagination. For example, online vaults make the tax collection process more comfortable. Now, offices using this feature have to wait in long lines to collect taxes. The danger of carrying cash is also over. You can pay taxes 24×7. In the past, traders had to give employees money to collect taxes. Later, they did so at their convenience, causing undue delays.
A few days before adding other features to the system. What follows is that the number of challenges of online wealth will be immediately available to people who store government taxes or fees online. They do not need to wait two days to confirm. Depositors will be able to print Treasury bill numbers and coupon numbers at home. Due to all this, the process of Cyber Treasury came into existence. It says that using the method. You can make an online payment to any of the government banks. At present, SBI is the only official bank that is following the Cyber treasury.
How To Make Use Of Cyber Treasury?
Users who wish to make a payment can select the required department and fill in the electronic form. For example, the following payment can be made in the Internet Finance Department of the Commercial Tax Department:-
(A) Luxury tax
(B) Professional tax
(C) Central business tax
(D) Other receipts
(E) Entry tax
After paying the network funds, users who are allowed to pay for the Ministry of Mineral Resources:-
(A) Concession fees, fares, and royalties
(B) Receipt from the Ministry of Mines
Users who wish to pay for the company and the Ministry of Social Affairs can pay to the Ministry of Online Finance:-
(A) Expenses for other general economic services
After paying the network funds, users who are allowed to pay for the dividend and profit department are permitted to:-
(A) Other investment dividends
Users who want to pay for the urban and rural planning department can pay to the network finance department:-
(A) City master plan and cost
Know About Different States Cyber Treasury
- AP Cyber Treasury
The AP Cyber Treasury is responsible for monitoring the state government’s accounts related to bills, taxes, and other financial matters. Andhra Pradesh provides various services between the government and its employees. The AP Finance Department is responsible for satisfying all AP governments’ economic plans or services to its employees.
- TS Cyber Treasury
TS Cyber Treasury operates under the Finance Department of the Network Treasury Secretariat’s administrative management, and its supervisor is the head of treasury and accounting. The office of the Chief of the Treasury and Accounting Division is located in Hyderabad, Telangana. The main principle of their functioning is that all the transactions are made smoothly in the state without any hacking or other trouble.
- TG Cyber Treasury
The TG Cyber treasury is another name for Telangana Cyber facility implemented in the state for the safe and online transaction. There are many things when it has to keep in mind when following the guidelines. After the transaction is completed, you will be provided with confirmation information. You will be given a CIN (Invoice Identification Number), the unique ID, after completing the transaction. The Ministry of Finance generates invoice numbers and receipts. You can print out the same content as the receipt. In addition to the CIN provided to you, you can use the CIN search or Challan search tool on www.mptreasury.org for verification until the next day, and you can also check your online bank details to verify the transaction.
Conclusion
We hope you have complete information on what is cyber treasury and how the government implements the process in different states. For now, it is only applicable to the government banks. So, if you use the Cyber treasury for online payment, take reference of the above guide.