South Indian Bank announced integration with the Central Board of Indirect Taxes for the collection of Goods & Service Tax Collection for its retail and corporate customers. The payment facility is LIVE, allowing all Taxpayers to remit GST using 'Over the Counter Mode' at Bank's vast branch network.
South Indian bank customers have the additional option to make payments via 'Internet Banking' facility as well making the process seamless, faster and hassle free.
Speaking on development, Thomas Joseph K, Chief Business Officer said 'South Indian Bank has built a bedrock of trust with its customers over several decades. We now are extending our state of the art technological innovations to provide our customers seamless and hassle free services. Our integration with the Central Board of Indirect Taxes (CBIC) for GST Collections for government is among the latest introductions. The feature allows Taxpayers ease of indirect tax payments across our 932 branches as well as through our Internet Banking platform -SIBerNet.'
South Indian bank is already LIVE with TIN 2.0, a for Direct Tax Payments, ICEGATE for customs duty payments and Telangana Cyber Treasury portal for Treasury Payments in the State of Telangana. Enabling this facility would further strengthen the ties of South Indian Bank with the Government of India imprinting it as a bankable partner in facilitating payments.
Shares of The South Indian Bank Limited was last trading in BSE at Rs. 16.42 as compared to the previous close of Rs. 15.74. The total number of shares traded during the day was 8643255 in over 5731 trades.
The stock hit an intraday high of Rs. 16.85 and intraday low of 15.76. The net turnover during the day was Rs. 142097613.00.