IDBI Bank has been informed of a penalty of ₹1.70 crore imposed by the Deputy Commissioner, Uttar Pradesh. The penalty pertains to matters related to alleged excess availment and utilization of Input Tax Credit (ITC) for the financial year 2021-22. The bank is evaluating appropriate legal remedies, including appeal.
Penalty Details
IDBI Bank has received a penalty notice from the Deputy Commissioner, Uttar Pradesh, regarding certain tax-related issues. The penalty amount imposed on the bank is ₹1.70 crore.
Financial Year Involved
The period under scrutiny for which the penalty has been levied is the financial year 2021-22.
Reason for Penalty
The penalty is related to the alleged excess availment and utilization of Input Tax Credit (ITC). The original order was issued under section 73 of the CGST Act, 2017.
Receipt Date
The order was received on December 30, 2025, via the GST portal.
Financial Impact
The total financial impact includes:
- Tax: ₹3.42 crore
- Interest: ₹1.11 crore
- Penalty: ₹1.70 crore
Bank’s Response
IDBI Bank is currently evaluating appropriate legal remedies, including an appeal, as per the law.
Source: BSE
