Karnataka Bank has enabled the service of collection of Goods and Service Tax (GST) through multiple modes of collections such as over-the-counter and through Internet banking facility.
A media statement said, now all the customers of Karnataka Bank can pay GST at their convenience through Internet banking facility or through all branches of the bank, with multiple payment options of cash/transfer/clearing modes within the limits prescribed by the Central Board of Indirect Taxes and Customs (CBIC).
Quoting Srikrishnan H, Managing Director and Chief Executive Officer of the bank, the statement said: “This is an important move to improving the overall customer experience and a very critical value addition. While this facility will help all our borrowing customers to route GST payments through our bank, it will further improve CASA. Our bank is working towards offering a ‘one-stop’ digital solution for all the statutory payments to customers and also to the general public, thereby contributing to digitisation of government payments.”
Karnataka Bank has already been authorised by the Reserve Bank of India for collection of direct and indirect taxes on behalf of CBDT and CBIC. The statement said the bank customers are already enjoying seamless payments for custom duty payments through an online Electronic Cash Ledger (ECL) by selecting ‘Karnataka Bank’ in the ‘ICEGATE’ portal of CBIC after going live on April 10.