In a move to simplify the tax payment process, South Indian Bank (SIB), a prominent private sector bank, has introduced the facility to pay Goods and Services Tax (GST) through the Unified Payments Interface (UPI). This new service allows taxpayers to make GST payments on the SIB's GST portal using a UPI QR code or a Virtual Payment Address (VPA) ID, making the process more convenient and seamless.

The bank's new UPI-based payment system aims to leverage the simplicity and popularity of UPI for tax collections. SIB has been authorized by the Reserve Bank of India (RBI) to act as an agency bank for government transactions and has also received a license from the Central Board of Indirect Taxes and Customs (CBIC) to collect indirect taxes. Samsung Galaxy A17 5G (Blue, 6GB RAM, 128GB Storage) | with Travel Adapter | 50 MP No Shake Camera | Gemini Live | Circle to Search | Super AMOLED | Corning Gorilla Glass Victus | 7.5mm Sleek | AI

Following IDFC Bank, South Indian Bank is now the second bank to offer this service. In 2023, SIB had already provided a platform for internet banking. Speaking about the new initiative, a senior official from SIB stated that this integration will make GST payments faster and more secure for taxpayers, offering a quick and convenient way for the public to fulfill their tax obligations. Also Read: Caste Census Essential to Identify Poverty and Socio-Economic Progress in Communities: Santosh Lad…!!