Banks Getting GST Ready
The Public and Private Sector Banks will remit the tax collection to Government Account with Reserve Bank of India. For this purpose, they are developing and making necessary changes in their Information Technology systems for integration with Reserve Bank of India and Goods & Services Tax Portal of Goods & Services Tax Network (GSTN).
Detailed protocols, for integration of the Banks' Information Technology Systems with RBI and GST portal of Goods & Services Tax Network, have been prepared and finalized by the Reserve Bank of India and Goods & Services Tax Network respectively in consultation with Government of India.
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