PUNE: Bank of Maharashtra (BoM) on Wednesday announced that it has successfully implemented the Goods & Services Tax (GST) module for both non-customers and customers alike.
Officials said that this service will help business entities, including proprietorship firms, partnership firms as well as private and public limited companies, to pay GST directly to the government.
Explaining the process, officials said, “The taxpayer will be required to generate the challan on the GSTN portal and choose Bank of Maharashtra to make the payment through various digital modes, such as its Corporate and Retail Internet Banking platforms.”
Elaborating on the process for traders and bank customers, officials said that three modules will be available to pay GST.
“The branches will accept the GST challans from customer and non-customers over the counter. The customer can generate challan from the GSTN (Goods and Services Tax Network) website and take a physical copy of the challan to the branch to make the payment. The customer can then make a cash payment, transfer through cheque, demand draft and pay order of BoM or clearing through cheque, demand draft and pay order of another bank.
The registered GST customer can generate challan from the GSTN website and select the e-payment option, choosing Bank of Maharashtra Internet banking. Consumers can also use Corporate Net Banking, in case of which an additional step will appear. The transaction will go from maker to checker, as per existing procedure. The existing Net banking customers can generate the challans from GSTN portal and through online mode (net banking), can make the payment,” officials explained.
Speaking about the announcement, MD and CEO, Bank of Maharashtra, RP Marathe said, “GST is a significant transformation with multiple benefits – the creation of a level market, enhanced ease of doing business and improved tax compliance.
We are delighted to have been authorised to extend our technology-based services and branches for collection of GST.
This initiative is in line with the bank’s philosophy of ‘One Family One Bank’, wherein we are committed to continuously build the philosophy of building a stronger India. I believe that this new digital facility, coupled with our extensive branch network, will offer more convenience to taxpayers in fulfilling the national mission of moving to the GST regime.”
In a bid to ease the process of collecting GST among business entities, Bank of Maharashtra has been communicating and conducting training sessions for its branch employees to enable them to handle queries related to GST. A helpdesk has been created for assistance on GST.
This helpdesk will be centralised for all the states. In case of any query, customers can contact Helpdesk on Toll-Free number 1800-233-4527.