Stamp Challan Co-existence Flashcards
Where are the Challan Number and Stamp Balance maintained in the context of policy issuance?
The Challan Number and Stamp Balance are maintained in GENCON.
How should BaNCS fetch the active e-stamp challan number from Gencon?
BaNCS should automatically fetch the active e-stamp challan number available in Gencon through an API.
Where does the posting of Stamp Duty occur during the policy issuance?
Posting of Stamp Duty occurs in GENCON at the time of policy issuance.
What happens to stamp duty accounting when a motor policy is issued in BaNCS?
When a motor policy is issued in BaNCS, the details of the policy are passed to Gencon through the Policy Fetch API, and stamp duty accounting happens in Gencon. Stamp duty accounting does not occur in BaNCS for BaNCS policies.
When is the stamp balance updated in Gencon?
The stamp balance is updated in Gencon when a BaNCS policy is issued.
Where and how is the E-Stamp Duty Report generated?
The E-Stamp Duty Report is generated from Gencon and will also display the BaNCS policy numbers.
How is the Challan Number used in the policy schedule?
The Challan Number will be displayed in the policy schedule within the respective system.
What triggers the block on policy issuance in Gencon?
In Gencon, when the stamp challan balance is reduced to a certain pre-defined threshold limit, the system will block policy issuance until a new stamp challan number is updated in the Gencon Stamp Master.
What should happen when the Stamp Challan number is updated in the Gencon Stamp Master?
When the Stamp Challan number is updated in the Gencon Stamp Master, BaNCS should automatically update the same in its Stamp Master.
What is the process when the active challan number’s balance in Gencon reduces to a threshold limit?
When the active challan number in Gencon, say C1, reduces to Rs 10,000, the user updates the challan number in Gencon with C2. C1 continues to be active until its balance is zero, after which C2 becomes active. Simultaneously, the system updates the active Challan number in BaNCS to C2 via API.
