Karur Vysya Bank gets RBI authorization to collect indirect taxes

Karur Vysya Bank (KVB) said that the Reserve Bank of India (RBI) has authorized it for collecting indirect taxes on behalf of the Central Board of Indirect Taxes and Customs (CBIC).

The development means that customers of Karur Vysya Bank will be shortly able to pay their indirect taxes, which include customs duty, GST, and other indirect taxes using its multiple channels.

Karur Vysya Bank gets RBI authorization to collect indirect taxes. Photo courtesy of Christopher J. Fynn/Wikipedia.org.

B Ramesh Babu — Managing Director and CEO of Karur Vysya Bank said: “Once the integration process is completed with CBIC, our customers should be able to pay their indirect taxes through our Bank. We are happy that we will be in a position to offer this service to our customers.”