IndusInd Bank Faces GST Demand Notice of ₹21.62 Crore
IndusInd Bank announced on Tuesday that it has received a demand notice from tax authorities amounting to approximately ₹21.62 crore, citing alleged short payment of Goods and Services Tax (GST).
The communication regarding this demand order was issued by the Deputy Commissioner of State Tax, Ahmedabad, Gujarat, highlighting various GST issues pertaining to the bank, as stated in a regulatory filing.
The financial implications of this order include a total liability of ₹21.62 crore, which encompasses penalties. In response, IndusInd Bank has expressed its intent to explore the possibility of filing an appeal against the order.