Karnataka Bank enables payment of Goods and Service Tax

Karnataka Bank has enabled the service of collection of Goods and Service Tax (GST) through multiple modes of collections such as Over the Counter (OTC) and through Internet Banking facility. 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 option of Cash/Transfer/Clearing modes within the limits prescribed by the Central Board of Indirect Taxes & Customs (CBIC).

Earlier, Karnataka Bank has been authorized by the Reserve Bank of India, for collection of Direct and Indirect Taxes, on behalf of CBDT and CBIC, on the recommendation from thf' C.ontrollPr Gf'Tif'rril of Accrnmts (f'(;A), Ministry of Finr1nce Bank Customers are already enjoying seamless payments for Custom Duty Payments through online under Electronic Cash Ledger (ECL), by selecting 'Karnataka Bank' in the 'ICEGATE' portal of Central Board for Indirect Taxes and Customs (CBIC) after going live on 10.04.2023.

Speaking on the occasion Shri Srikrishnan H, Managing Director & CEO, 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 & float. 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 Govt. Payments".

Mr. Sekhar Rao, Executive Director & other top executives of the Bank were present on the occasion.

Shares of The Karnataka Bank Limited was last trading in BSE at Rs. 248.55 as compared to the previous close of Rs. 249.10. The total number of shares traded during the day was 157124 in over 2049 trades.

The stock hit an intraday high of Rs. 251.50 and intraday low of 245.90. The net turnover during the day was Rs. 39109302.00.

Source : Equity Bulls

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TheKarnatakaBank INE614B01018 GST Payment