HDFC Bank goes live for Customs Duty payments

HDFC Bank today announced that its integration with Central Board of Indirect Taxes and Customs (CBIC) ICEGATE platform has gone live. With this, the Bank will offer customers the convenience of directly paying Customs Duty by selecting HDFC Bank. This follows authorisation by the Principal Chief Controller of Accounts of CBIC to collect IGST on import and export of goods and services.

This integration also offers the Bank the opportunity to acquire current accounts of customers who bank with others that do not offer this facility. RBI regulations permit opening of current accounts for specific purposes like statutory payments, it said in a press statement.

“Digital payments of customs duty will help improve ease of doing business in India,” said Smita Bhagat, Group Head of Government and Institutional Business, Partnership and Inclusive Banking Group Startup Banking, HDFC Bank. “Online custom collection will bring in transparency and efficiency at scale. There is a massive surge in online payments due the pandemic-imposed restrictions and government initiatives like demonetisation, GST, Digital India, and mandatory e-invoicing. HDFC Bank has integrated its system with ICEGATE portal of CBIC to collect custom duty. This will provide seamless banking experience with best service support.”

Sunali Rohra, Executive Vice President, Government & Institutional Business & Gig Banking, HDFC Bank said, “As the largest private sector agency bank in India for tax collection, we strongly believe that a partnership between the government and private players has the power to transform lives,” said