Karnataka Bank Pioneers UPI for GST Payments

Karnataka Bank has taken a significant step towards digitalising tax payments by introducing GST payments through the Unified Payments Interface (UPI). As one of the first banks to offer this service, the bank has made it convenient for all GST-registered taxpayers, including its own customers, to seamlessly settle their GST liabilities.

Previously, GST payments could be made at Karnataka Bank branches or through the bank’s internet banking platform. While the UPI mode currently has a transaction limit of ₹1 lakh, customers can make unlimited GST payments through Internet banking.

Demonstrating its commitment to providing comprehensive financial solutions, Karnataka Bank also facilitates smooth payments for customs duty and Direct Taxes through its branches and Internet banking channels. This move aligns with the bank’s strategy to offer secure and efficient online banking services.

Speaking on the occasion, Shri Srikrishnan H, Managing Director and CEO, said, “This is yet another important step towards digitising our services to provide a secure online mode of payment. Our GST services offer ease and convenience to businesses and consumers for timely payment of their GST obligations. We welcome our existing and potential customers of Karnataka Bank to use our digital services in line with GOI’s efforts of promoting Digital Financial services.”

Commenting on the launch of this initiative, Shri Sekhar Rao, Executive Director, said, ” The launch of payment of GST through UPI underpins our commitment to become the preferred banker to all sections of the society and facilitate ease of doing business. We are optimistic about expanding our CASA base through this initiative.”

About Karnataka Bank Ltd

Karnataka Bank provides a wide range of banking and financial services, including retail, corporate, and para-banking activities, as well as treasury and foreign exchange business.

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