UPI, Credit Card and Debit Card, in addition to existing Net Banking
This initiative endorses Kotak’s commitment tosupport Government of India’s vision to promote digital payments and simplify financial transactions
Mumbai, January 2024:In line with Government of India’s vision to promote digital payments and simplify financial transactions, Kotak Mahindra Bank Limited(“KMBL”/“Kotak”)today announced the launch of seamless GST paymentsthrough multiple options – UPI, Credit Card, and Debit Card, in addition to the existing Net Banking option.Kotak is India’s first bank that enables tax payersto seamlessly meet their GST obligationsby choosing their preferred digital payment modein the GST portal’s ‘E-payment’.
Kotak Mahindra Bank continues to be anardent supporterof India’s Digital Public Infrastructure and has been participatingin the growth of the digital marketplace through multiple initiatives.With the new seamless and multiple payment options,customers, even those from other banks (previously unauthorised for certain payment options),will be able to efficiently and reliably complete their GST payments. Notably, Kotak integrated with the Centre’s GST portal last year, providing a user-friendly platform for tax fulfilment through its Net Banking service.
Raghavendra Singh, President, Public Affairs & Government Business, Kotak Mahindra Bank Limited, said, “We commend the Government of India’s efforts in leading a digital payment revolution that is being recognised and adopted by countries across the world. As the first Bank in India to launch multiple GST payment options, we are delighted to pave the way for the future of digital payments through a frictionless customer experience for not only Kotak customers but for all tax payers”.
How to pay GST via KMBL’s seamless GST payment:
1. Log in to www.gst.gov.in
2. Create Challan & Select E-Payment
3. Choose from multiple payment options such as Credit Card, Debit Card or UPI
4. Select Kotak Mahindra Bank*
5. Make the payment
About Kotak Mahindra Group
Established in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Ltd (KMBL).
Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked.
Kotak Mahindra Group has a global presence through its subsidiaries in UK, USA, Gulf Region, Singapore and Mauritius with offices in London, New York, Dubai, Abu Dhabi, Singapore and Mauritius respectively. As on 30thJune, 2023, Kotak Mahindra Bank Ltd has a national footprint of 1,788 branches and 3,047 ATMs, and branches in GIFT City and DIFC (Dubai).