HDFC Allows Online Custom Duty Payment

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HDFC Allows Online Custom Duty Payment
10 Jan 2022
5 min read

News Synopsis

HDFC Bank has allowed its customers to pay the customs duty online under its integration with the Central Bank of Indirect Taxes and Customs(CBIC) ICEGATE platform. With this authorisation, the bank is liable to collect IGST on the import and export of goods and services.

The bank has said that it will facilitate both retail and wholesale payments of customs duty. The clients would not require to go through the route payment through different banks. HDFC Bank can also offer it an opportunity to acquire the current accounts of the bank that do not facilitate the online payment customs duty.

HDFC Bank was also the first bank that was appointed as an agency by the RBI for the digitisation of the tax collection in 2001. It is also the second-largest bank for collections of direct taxes and for GST payments to the government.

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