Yes Bank Launches One-Click Seamless GST Payment Facility Via NetBanking for Businesses and Individuals

Yes Bank, India’s sixth-largest private sector bank, expanded its online banking offerings on Friday by announcing the launch of a Goods and Services Tax (GST) payment option.

The initiative, which has been approved by the Government of India, allows businesses and individuals to make GST payments easily using YES BANK’s Net Banking platform and branch network.

“Through direct integration with the GST portal, this initiative enables corporates and sole proprietor businesses to meet their tax obligations swiftly and securely using YES BANK’s Retail and Corporate Internet Banking platforms, as well as any of its extensive branch network,” the bank stated in a regulatory filing.

The bank’s direct integration with the GST portal (www.gst.gov.in) enables taxpayers to produce GST challans and make payments instantaneously through YES Bank NetBanking, while receiving real-time confirmations and downloadable e-challans. Alternatively, taxpayers can make over-the-counter payments at YES Bank branches across India.

The service is available to both YES Bank customers and non-customers, increasing access to smooth tax payments. The bank stated that this move is consistent with its commitment to assisting India’s digital economy and boosting the ease of doing business.

Prashant Kumar, YES Bank’s Managing Director and CEO, stated, “Customer happiness is at the heart of all we do. We seek to provide smooth and efficient financial solutions through a digital-first approach based on innovation, responsibility, and accountability.”

This mandate from the Government of India and the Reserve Bank of India, which allows for direct connection with the GST system, demonstrates the ambition of offering businesses a fast, secure, transparent, and hassle-free tax payment experience.

GST Payment System Important Features

According to Yes Bank, the following are the essential highlights of the GST payment method.

• Customers can produce and pay GST challans directly using YES BANK’s NetBanking platform or at any of its branches.
• Secure and efficient features include real-time transaction confirmations, transparent and competitive fee structures, and an easy-to-use user interface.
• Universal access that is open to both YES BANK account holders and non-account holders, expanding the route for digital tax payments.
• With this comprehensive offering,it enhances the Bank’s existing array of digital tax payment services, providing a one-stop shop for financial compliance.

Shares of YES Bank Ltd closed at Rs.16.15 on the BSE, on Friday (March 14).