News Karnataka
Thursday, March 28 2024
Cricket
Mangaluru

RBI authorizes KBL to collect taxes payable to CBDT/CBIC

RBI authorizes KBL to collect taxes payable to CBDT CBIC
Photo Credit : By Author

Mangaluru: Karnataka Bank has been authorized by the Reserve Bank of India, for the collection of Direct and Indirect Taxes, on behalf of CBDT and CBIC, on the recommendation from the Controller General of Accounts (CGA), Ministry of Finance, Govt. of India.

Bank customers are already enjoying seamless payments for Custom Duty Payments online, by selecting ‘Karnataka Bank’ in the Indian Customs Electronic Gateway ‘ICEGATE’ portal of CBIC. The (ICEGATE) portal of Central Board for Indirect Taxes and Customs (CBIC), provides e-filing services to the Trade, Cargo Carriers and other Trading Partners electronically. Now CBIC has implemented new integration for Electronic Cash Ledger (ECL) with the functionality of collection of both tax and non-tax receipts for CBIC on behalf of third-party applications through multiple modes of collections and Karnataka Bank is on-boarded for the same.

Speaking on the occasion Shri Mahabaleshwara M S, Managing Director & CEO, said, “Bank has gone live from 22-12-2022 for collection of Customs Duty Payments. Now CBIC has implemented Electronic Cash Ledger (ECL) for Customs collection with effect from 01-04-2023 and Karnataka Bank is one among the few Banks in the country to get final approval from Principal Chief Controller of Accounts (Pr. CCA), CBIC, New Delhi for collection of Customs Duty Payment under the new regime. All our customers can pay customs duty at their convenience through Internet Banking Facility.

This will have a more positive impact on the Bank’s forex business and also help augment CASA Deposits. This is yet another digital initiative being dedicated to our customers under the Bank’s KBL Nxt Digital transformation project”.

Read more:

Karnataka Bank’s CEO outlines new milestones for its Centenary

KBL & Paisalo Digital join forces to expand access to credit

KBL’s “Strings Attached”: A Night of Carnatic Music Splendor

KBL Consolidated Q3 Net Profit Up 105.32 % to Rs 300 Crores

Karnataka Bank wins ‘Prathista Puraskar – Digidhan Award’

 

Share this:
Media Release

Read More Articles
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

To get the latest news on WhatsApp