NE BUSINESS BUREAU
KUMBAKONAM, OCT 30
City Union Bank (CUB) on Thursday announced that it has been authorized by the Reserve Bank of India (RBI) for collection of Direct and Indirect Taxes on behalf of the Central Board of Direct Taxes (CBDT) & Central Board of Indirect Taxes and Customs (CBIC), respectively.
Following the approval received, and the completion of the integration process with CBDT & CBIC, customers of the bank can remit their Direct & Indirect Taxes ( GST, Customs Duty and other Indirect taxes) through Bank’s multiple channels.
Commenting on this, Dr N Kamakodi, Managing Director & CEO of the Bank said, “It has been the long-standing requirement of our customers that they should be able to pay their direct and indirect taxes through our bank and we are delighted that our bank will be in a position to offer these services to our esteemed customers.”
He further thanked the Central Government, RBI, CBDT & CBIC, as the approval will offer a level playing field among the all Agency Banks.
