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What is the linkage between GSTN and the authorized Banks?

QuestionsCategory: GSTWhat is the linkage between GSTN and the authorized Banks?
Profile photo of JayeshMehtaJayeshMehta Staff asked 6 months ago

What is the linkage between GSTN and the authorized Banks?

1 Answers
Profile photo of AditaPareekAditaPareek Staff answered 6 months ago

There will be real time two way linkage between the GSTN and the Core Banking Solution (CBS) of the Bank. CPIN is automatically routed to the Bank via electronic string for  verification and receiving payment and a challan identification number (CIN) is to automatically sent by the Bank to the Common Portal confirming payment receipt. No manual intervention will be involved in the process by any one including bank cashier or teller or the taxpayer.