MM TAX CLUB

As per recent update from GSTN, The IndusInd Bank is now integrated with the GST portal for payment of tax.

Overview

Goods and Services Tax (GST) was implemented in India with effect from 1st Jul 2017. It is a single tax on the supply of goods and services, right from the manufacturer to the consumer.

GST subsumed several taxes and levies, which include Central Excise Duty, Additional Excise Duty, Services Tax, Additional Customs Duty, Surcharges, State-level Value Added Tax/Sales Tax, Octroi and Entry Tax, Purchase Tax, Luxury Tax and Tax on lottery, betting & gambling. Other levies which were applicable on inter-state transportation of goods have also been done away with in GST regime.

IndusInd Bank is authorised by RBI and O/o Controller General of Accounts, Ministry of Finance, Government of India for collection of Indirect Taxes on behalf of Central Board of Indirect Taxes & Customs (CBIC).

Accordingly IndusInd Bank is an authorised bank for collection of Goods & Services Tax (GST) through its integration with the GST portal.

Customers can make tax payments on GST portal simply by selecting Net Banking or Over-the-Counter mode as a payment option while creating challan on the GST website.

The tax payment can be initiated via below Payment modes:

• Internet Banking – Retail Channel (IndusNet)
• Internet Banking – Corporate Channel (IndusDIRECT)
• Branch Channel i.e. Over the Counter – at all IndusInd Bank branches (Cash, Cheque, DD of any Bank) 
• RTGS/NEFT

• Internet Banking – Retail Channel (IndusNet) - Click here
• Internet Banking – Corporate Channel (IndusDIRECT) - Click here
• Over the Counter - Click here
• RTGS/NEFT - Click here
• GST related FAQs - Click here

• Facilitation for the taxpayer by providing hassle free, anytime, anywhere mode of payment of tax;
• Convenience of making payment online;
• Faster remittance of tax revenue to the Government Account;
• Paperless transactions;
• Speedy Accounting and reporting;
• Electronic reconciliation of all receipts;