State Bank of India (SBI), the country’s largest public sector bank has reportedly unveiled commercial tax collection for West Bengal Government at all its 1104 branches. This new tax collection service will work through Government Receipts Portal System (GRIPS), which will be effective at all SBI branches in the State. Moreover, GRIPS will facilitate submitting more than one type of tax at one go, it will ensure faster payment of tax to the Government.
Currently, commercial taxes, stamp duty, excise duty, state medical exam fees can be deposited through GRIPS. The bank is planning to introduce payment of motor vehicle tax through this route.
State Bank of India has reported 35.07% fall in its net profit at Rs 2375.01 crore for the second quarter ended September 30, 2013 as compared to Rs 3658.14 crore for the same quarter in the previous year. However, total income of the bank has increased by 12.88% at Rs 37199.92 crore for quarter under review as compared to Rs 32953.47 crore for the quarter ended September 30, 2012.
Currently, commercial taxes, stamp duty, excise duty, state medical exam fees can be deposited through GRIPS. The bank is planning to introduce payment of motor vehicle tax through this route.
State Bank of India has reported 35.07% fall in its net profit at Rs 2375.01 crore for the second quarter ended September 30, 2013 as compared to Rs 3658.14 crore for the same quarter in the previous year. However, total income of the bank has increased by 12.88% at Rs 37199.92 crore for quarter under review as compared to Rs 32953.47 crore for the quarter ended September 30, 2012.
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