How does it work?
Customers are now able to pay the below statutory payments using Real-Time Gross Settlement (RTGS) channel of Bangladesh Bank via HSBCnet, HSBC’s online platform.
- VAT on domestic products and services
- Client’s VAT
- Supplier’s VAT (VDS – VAT deduction at source)
- Excise duty
- Supplementary duty on domestic services
- Supplementary duty on domestically produced commodities
- Fines and penalties
In order to do the online payment, customers are required to initiate their payment in HSBCnet capturing BIN (client or supplier) and payment details. Upon successful real-time validation of BINs and completion of their payments, customers will receive an SMS containing the challan number (receipt). On the following business day, the challan copy will be emailed to the customers from National Board of Revenue (NBR).