South Indian Bank Makes GST Payments Seamless using UPI for
Customers & Non-Customers
Chennai: South Indian Bank has announced the
launch of its UPI-based GST payment facility on the GST portal. The new
service enables taxpayers across India to make GST payments seamlessly using
UPI through QR codes and VPA IDs.
Reserve Bank of India has authorised South Indian Bank for undertaking Government Business as an `Agency Bank’ and the Bank is also authorised by the Central Board of Indirect Taxes & Customs (CBIC) for collection of Indirect Taxes. The Bank had earlier introduced GST payment options through its internet banking platform ‘SIBerNet’ and Over-the-Counter services in April 2023.
With UPI now added as a payment option, both customers
and non-customers of the Bank can make faster and convenient GST payments. This
move is expected to enhance easy tax compliance for both businesses and
individuals.
Commenting on this development, Biji S S, SGM & Head - Branch Banking, South Indian Bank, said the integration will make GST payments faster and more convenient for taxpayers. “UPI is the most preferred mode of payment today.
This integration allows taxpayers, including both our customers
and non-customers, to pay GST via UPI through South Indian Bank. With this
option, taxpayers can complete their transactions securely and effortlessly
from anywhere,” she added.
About South Indian Bank:
South Indian Bank is a Kerala-based private sector Bank with a
nationwide presence. The Bank’s shares are listed on the Stock Exchange Mumbai
(BSE) and the National Stock Exchange of India Ltd., Mumbai (NSE). [South
Indian Bank has 948 branches, 5 Ultra Small Branches / Satellite Branches, 1147
ATMs, and 126 CRMs across India and a representative office in Dubai, UAE. For
more information, please log on to https://www.southindianbank.
