27.03.2024 DCB Bank launches GST payment integration, enhancing its tax payment services

DCB Bank, recognized for its innovative banking solutions, has now expanded its tax payment services by integrating with the Goods and Services Tax Network (GSTN) portal. This strategic move enables both DCB Bank customers and the general public to make GST payments effortlessly, either online through DCB Internet Banking or by visiting any of the bank’s branches. This integration marks a significant enhancement to the bank’s existing Direct Tax payment solutions, which already cover Income Tax, Advance Tax, and Tax Deduction at Source (TDS), further established since the bank’s designation as an Agency Bank for handling government transactions last year.

The GSTN portal offers a streamlined and automated approach to managing GST processes, including registration, returns, refunds, and payments. It supports the payment of all GST types, such as CGST, SGST, IGST, and UGST, providing a unified platform for taxpayers to meet their GST obligations efficiently. Additionally, the GSTN portal facilitates a smooth refund and Input Tax Credit process, enabling taxpayers to track their refund applications’ progress seamlessly.

The integration of DCB Bank with the GST portal not only simplifies tax payments but also promotes the efficient use of Input Tax Credits, helping to eliminate tax cascading and optimize business operations across the supply chain. Taxpayers, including individuals and businesses, as well as registered GST practitioners (such as CAs, CSs, CMAs, etc.), can easily generate payment challans using their GSTIN details on the GST portal and complete their tax payments conveniently.

Praveen Kutty, Head of Retail & Agri Banking at DCB Bank, emphasized the benefits of this new facility, stating, “DCB Bank is committed to providing a fast, safe, and effective platform for tax filing and GST payments, offering substantial savings in time and costs for taxpayers. This endeavor has been made possible with the support of the Central Board of Indirect Taxes & Customs, Government of India, and is a testament to our ongoing effort to enhance customer convenience.”


Source: The Banking & Finance

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