RBI has authorized RBL Bank to collect indirect taxes on behalf of the government
The Reserve Bank has authorized RBL Bank to collect indirect taxes on behalf of the government, the private sector lender said Friday. It has already been authorized to collect direct taxes.
“RBL Bank is authorized by the Reserve Bank of India (RBI), upon the recommendation of the Controller General of Accounts, the Ministry of Finance and the Government of India, to collect indirect taxes on behalf of the Central Council of Indirect Taxes and Customs (CBIC ),’ the bank said in a registration request.
The bank was recently authorized to collect direct taxes on behalf of the Central Board for Direct Taxes (CBDT). With this announcement, the bank can now collect direct and indirect taxes.
The private sector lender said that after technical integration, its corporate and individual customers will be able to pay their indirect taxes through the bank’s mobile banking or internet banking platforms, as well as through its network of branches.
