Shreyansh Singh, an IIT Kanpur alumnus, has eight years of experience in the finance industry. He has spent 5 years at American Express developing mid to long-term strategies for multiple markets including US, Europe and India. Shreyansh currently leads Growth and Strategy initiatives at Pice.
1 Sep 25
6 mins
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A Comprehensive Guide on RBI Account Number for GST Payment
The Reserve Bank of India (RBI) acts as the aggregator of all GST transactions and ensures smooth settlement into government accounts.
Taxpayers can make GST payments via NEFT, RTGS, or IMPS using RBI’s authorised IFSC code.
The official RBI NEFT RTGS GST Collection IFSC Code is RBIS0GSTPMT, required for GST challan payments.
You can find the RBI GST IFSC code through the GST portal challan, RBI’s website, bank lookup tools, or customer support.
Knowing the RBI account number for GST payment and IFSC details ensures error-free GST filing and compliance.
The Reserve Bank of India is the aggregator of all the GST transactions made to different governmental accounts. It accelerates GST payments directly into respective government accounts using either NEFT, RTGS or IMPS payment methods.
For a better understanding of this process, this detailed overview will walk you through the details of the RBI account number for GST payment, along with the process of finding the IFSC code of RBI’s GST collection branch.
Reserve Bank Of India
The Reserve Bank of India is the regulatory authority of India for all financial institutions. All the representative banks that collect GST from taxpayers through challans or all the taxes paid through the GST portal online are reported to the RBI for settlement. Take a look at some of RBI’s key functions:
RBI serves as the central point of recording all GST transactions.
The central bank offers e-scrolls with detailed GST data to the respective authorities.
RBI debits all paid GST from the collecting bank and credits the amount to governmental accounts.
About Reserve Bank Of India - RBI Neft RTGS GST Collection IFSC Code
GST-registered taxpayers must be aware of the Reserve Bank of India’s IFSC code for making GST transactions using NEFT / RTGS methods. Here are the details:
Bank Name: Reserve Bank of India
Bank Code: RBIS
Branch: RBI NEFT RTGS GST Collection
Address: Asst. General Manager, GST Cell, Reserve Bank of India, Mumbai Regional Office, Fort, Mumbai - 400001
IFSC Code: RBIS0GSTPMT
If an account holder is willing to make a transfer from/to the account using NEFT, RTGS or IMPS methods, a valid IFSC code is required.
Note: IFSC (Indian Financial System Code) is an 11-digit alphanumeric code assigned by the RBI to each bank branch participating in electronic payment systems like NEFT, RTGS and IMPS.
How to Find Reserve Bank of India RBI Neft RTGS GST Collection IFSC Code?
Here are a few ways to find the IFSC code of the Reserve Bank of India RBI NEFT RTGS GST Collection branch:
Reserve Bank of India’s Website:
RBI has published a list of IFSC codes for all banks and their branches under its regulation. Go to the RBI’s official website and navigate to ‘Payment Systems’ to ‘IFSC/MICR Codes’ to find the code you have been looking for.
IFSC Code Lookup Tools:
Most websites of commercial banks come with an IFSC code lookup tool. Search by the bank name and branch to get the correct IFSC code.
GST Portal:
While paying GST through NEFT or RTGS, the GST portal will auto-generate a challan that includes RBI’s authorised IFSC code. Ensure to use the IFSC mentioned in the challan for error-free processing.
Contact Customer Support:
If you are unsure which RBI IFSC code to use, you can contact your bank’s or the RBI’s help desk for assistance.
Bank Documents:
The IFSC code for RBI will also be present on its cheque leaf and bank passbook. Fetch all details from there to complete your GST transaction in no time.
Conclusion
Whether you are a business owner or a GST-registered taxpayer, knowing the role of the RBI in the financial ecosystem of India is essential. IFSC code, your GST registration number and the RBI account number for GST payment are some of the crucial data that every taxpayer should be aware of. In case you are unaware, opt for either of the above-mentioned processes to get the details.
💡If you want to streamline your payment and make GST payments via credit, debit card or UPI, consider using the PICE App. Explore the PICE App today and take your business to new heights.
FAQs
What is the role of the Reserve Bank of India in GST payments?
The Reserve Bank of India GST system acts as the central authority to collect and settle all GST payments made by taxpayers. When a taxpayer pays GST via challan, the RBI receives the payment details from commercial banks and ensures that the funds are credited to the respective government accounts. This ensures transparency, quick settlement, and smooth reconciliation of all GST transactions in India.
What is the IFSC code of the RBI GST Collection branch?
The official GST IFSC code for making GST payments through NEFT or RTGS is RBIS0GSTPMT. This unique 11-character alphanumeric code is used to identify the RBI NEFT RTGS GST Collection branch. Taxpayers must use this IFSC code while generating challans for GST payments to avoid errors or delays in fund transfers. Always verify the IFSC mentioned on your challan before completing the transaction.
How can I make an RBI GST payment through NEFT or RTGS?
To make an NEFT RTGS GST payment, taxpayers need to log in to their bank’s net banking portal and select the option to pay GST. While entering beneficiary details, the RBI account for GST and the IFSC code RBIS0GSTPMT must be used. Once the payment is initiated, the RBI debits the amount from the payer’s bank and credits it directly into the government account linked with GST.
How can I find the RBI GST IFSC code if I forget it?
You can easily retrieve the GST IFSC code through multiple sources. The GST portal automatically generates a challan containing RBI’s authorised IFSC code when you initiate payment. Additionally, you can visit the Reserve Bank of India’s website, use IFSC code lookup tools provided by commercial banks, or check your challan copy. Contacting your bank or the RBI help desk is another way to confirm the IFSC for GST transactions.
Why is it important to use the correct RBI account for GST payments?
Using the right RBI account for GST payments ensures that your funds are transferred securely to the correct government account. If an incorrect IFSC or account number is used, the payment may fail or remain uncredited, causing delays in filing GST returns. To maintain compliance and avoid penalties, taxpayers must always double-check the RBI GST payment details before proceeding with NEFT, RTGS, or IMPS transactions.
Shreyansh Singh, an IIT Kanpur alumnus, has eight years of experience in the finance industry. He has spent 5 years at American Express developing mid to long-term strategies for multiple markets including US, Europe and India. Shreyansh currently leads Growth and Strategy initiatives at Pice.
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