IDBI Bank Gets Rs 2.97 Crore GST Demand Order

by

The bank is evaluating appropriate legal remedy, including appeal, as per law

IDBI Bank has received a GST demand order along with interest and penalty

IDBI Bank on Tuesday said it has received a GST demand order of Rs 2.97 crore along with interest and penalty for alleged excess availment of input tax credit (ITC).

In a regulatory filing, the private sector bank said the Dehradoon state tax department has issued an order under the GST rules pertaining to 2018-19 fiscal for alleged excess availment and utilisation of ITC.

The order includes a tax demand of Rs 1.42 crore as well as interest and penalty of Rs 1.41 crore and Rs 0.14 crore, respectively.

“The bank is evaluating appropriate legal remedy, including appeal, as per law,” IDBI Bank said.

Shares of IDBI Bank were trading at Rs 85.41, down 3.82 per cent over previous close on the BSE.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

Namit Singh Sengar

Namit writes on personal finance, economy and brands. Currently contributing to News18.com as a Senior Sub Editor in the business vertical. Prior to t…Read More

Read original article here

Denial of responsibility! Pioneer Newz is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment