Financial service provider Bandhan Bank on Monday launched the facility to collect Goods and Services Tax (GST), through the online and offline modes from its customers as well as noncustomers.
Under this authorsisation, people can pay their GST through the bank’s Retail Internet Banking, and Corporate Internet Banking platforms. The tax can also be paid in any of the bank branch cash, cheque or a demand draft.
“The initiation of GST revenue collections marks another significant milestone in our efforts to bring government services closer to our customers. As the Government focuses on enhancing ease of business for citizens, Bandhan Bank remains committed to driving positive change through our superior digital and technological capabilities. At Bandhan Bank, our commitment to customer centricity is at the heart of everything we do. We believe that understanding and anticipating our customers’ needs is key to delivering exceptional service,” said Rajinder Babbar, Executive Director & Chief Business Officer.
India’s GST revenue for August 2024 marked a yearly growth of 10%, despite a month-on-month decline from July. Experts highlight the overall growth in tax revenue and an increase in GST refunds affecting net collections. The positive trend in gross GST collections reflects a robust economy and ongoing tax reforms supporting businesses.
The bank is present in 35 out of India’s 36 states and Union territories and has a customer base of 3.44 crore. It has about 6,300 banking outlets across India.
