The Federal Bank has successfully appealed against a GST order that imposed a penalty of ₹14,95,166.98. The First Appellate Authority, Punjab, has allowed the bank’s appeal, setting aside the original order. Consequently, the tax demand and penalty are now nullified, and the matter is disposed of. This favorable outcome removes a financial liability for the bank.
Federal Bank Wins GST Appeal
The Federal Bank has announced a significant victory in its appeal against a Goods and Services Tax (GST) order. The bank had previously received an order from the Central GST Authority, Amritsar, Punjab, for the period FY 2017–18 to FY 2022–23, which imposed a penalty of ₹14,95,166.98 under Section 74(1) of the Central Goods and Services Tax Act, 2017.
Appellate Authority Overturns Penalty
In response to the initial order, the bank filed an appeal before the First Appellate Authority, Punjab. Following the proceedings, the Order-in-Appeal, received on November 13, 2026, at 1:26 PM, saw the Additional Commissioner (Appeals), Central GST, Punjab, allow the bank’s appeal. This decision effectively set aside the original GST order.
Financial Impact of Appeal
As a direct result of this appellate ruling, the tax demand and the penalty amounting to ₹14,95,166.98 that were levied have been set aside. The appeal is now considered disposed of, removing this financial liability for The Federal Bank. The detailed disclosure as required by SEBI regulations is enclosed as Annexure A.
Source: BSE
